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CBP Issues First RM500 Million Secured Structured Wakalah Sukuk
🇲🇾 Malaysia /Economy & Trade

CBP Issues First RM500 Million Secured Structured Wakalah Sukuk

From Utusan Malaysia · () Malay

Translated from Malay, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Co-opbank Pertama (CBP) has issued its first RM500 million secured structured Wakalah Sukuk.
  • The issuance was made through its special-purpose vehicle, Himayah Sukuk Berhad, under a RM5 billion Sukuk Wakalah program.
  • This marks the first secured structured Sukuk issued by a cooperative banking institution in Malaysia, based on Shariah principles.

Co-opbank Pertama (CBP) has successfully issued its inaugural RM500 million secured structured Wakalah Sukuk. This significant financial move was executed through its dedicated special-purpose vehicle, Himayah Sukuk Berhad.

The issuance falls under a larger RM5 billion Sukuk Wakalah program and is structured based on the Shariah principle of Wakalah Bi Al-Istithmar. CBP highlighted that this represents a pioneering effort, being the first secured structured Sukuk to be launched by a cooperative banking institution within Malaysia.

The bank stated that the program aims to provide a robust framework for future fundraising activities, reinforcing its financial stability and commitment to Shariah-compliant financial instruments. This debut issuance is expected to pave the way for further development in Malaysia's Islamic finance sector, particularly within the cooperative banking space.

DistantNews Editorial

Originally published by Utusan Malaysia in Malay. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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