IDB establishes First Local Currency Sukuk Programme in Malaysia

Jeddah, August 03, SPA -- A team of officials led by Dato’ Syed
Ja’afar Aznan, Vice President of Islamic Development Bank (IDB)
visited Kuala Lumpur for the signing of a RM (Ringgit Malaysia) 1.0
billion Sukuk programme, according to a latest press release issued
by IDB in Jeddah.


The regulators namely bank Negara Malaysia (Central Bank of
Malaysia); the Securities Commission and the Ministry of Finance have
already given their approval for the establishment of the programme
and issuance of Sukuk there.


The joint lead arrangers for the programme are CIMB Investment Bank
Berhad and Standard Chartered Bank Malaysia Berhad whilst the co-lead
manager is RHB Islamic Bank Berhad. The legal counsel for the
transaction is Zaid Ibrahim & Co.



IDB establishes First Local Currency Sukuk Programme in Malaysia
2 Jeddah

Following the signing of the programme documents by IDB, a 2-day road
show was recently conducted along with an investor presentation in
Kuala Lumpur, which was attended by representatives of public and
private institutions' investors.


IDB has chosen Malaysia for the issuance of its first local currency
Sukuk. The funds raised will be used to finance projects in Malaysia.



IDB is a multilateral development bank of 56 Islamic countries. It
has a AAA rating from three international rating agencies, Standard &
Poors, Moody’s and Fitch Ratings. The programme has been assigned a
AAA rating from Standard & Poors.