Islamic Finance

Malaysia's Aeon Credit Service issues 390 mln ringgit in sukuk murabahah


Malaysia-based Aeon Credit Service issued 390 million ringgit  ($93.2 million) in sukuk murabahah on October 18, its biggest issuance since its Islamic commercial papers programme was established in May 2015.

The issue has a tenure of 31 days.

Aeon said in an exchange filing on October 24 that proceeds from the sukuk will be for Shariah-compliant working capital purposes. 

 This is the company's eighteenth issuance of sukuk murabahah as part of its Islamic commercial papers programme. 

Aeon Credit Service's products include credit cards, easy payment, hire purchase financing for motor vehicles, and personal financing.

($1 = 4.18 Malaysian ringgit)

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Sukuk