Malaysia's Bank Muamalat to raise up to 1 bln rgt via sukuk

May 25, 2016 3:01 AM

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May 25 Malaysia's Bank Muamalat will set up a 1 billion ringgit ($243.4 million) sukuk programme, after the Islamic lender said on Wednesday it would redeem 400 million ringgit worth of subordinated sukuk on June 15.

Bank Muamalat's new sukuk programme has loss-absorption features to meet Basel III criteria, qualifying as Tier 2 capital, rating agency RAM Ratings said in a regulatory filing.

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