First Foreign Sukuk Listed On Bursa Saham Malaysia

In line with Malaysia’s aspiration to internationalize Bursa Malaysia as the Islamic investment centre, recently there is this foreign listing of US$500 million (RM1.7 billion) sukuk issued by GE Capital.

Details:

• The five-year Islamic bond is structured based on the globally accepted Syariah principle of Sukuk Al Ijara.
• First foreign sukuk listing on Bursa Malaysia and hope to see more foreign issuance of bonds or sukuk listed here in the near future,” he said.
• Bursa Malaysia registered its first local sukuk listings by Petronas and Cagamas in August 2009. 

Earlier article described the basics of Islamic financing which might be useful for those unfamiliar with such available source of financing.

Incidentally, we should also know that our country, Malaysia is the world’s largest sukuk issuance centre, with more than 60 per cent of sukuk outstanding globally originated here. It also hosts the world’s largest sukuk market worth at an estimated US$66 billion as at end of June 2009, and remains a key driver of growth for the Malaysian Islamic market