Sukuk 1Malaysia 2010
The Ministry of Finance wishes to announce the issuance of Sukuk 1Malaysia 2010 amounting to RM3 billion on 21 June 2010. Bank Negara Malaysia has been appointed to issue the sukuk on behalf of the Government.
The sukuk, which will be scripless and based on Shariah principles, is an additional investment instrument for Malaysian citizens who are 21 years and above. The RM3 billion sukuk, which has a 3-year tenure, offers a return of 5% per annum. Sukuk 1Malaysia 2010 has a resaleable feature which provides the flexibility for investors to sell and purchase the sukuk before the maturity date.
Those wishing to subscribe may apply for Sukuk 1Malaysia 2010 during the subscription period, commencing from 20 May to 9 June 2010. The minimum subscription in Sukuk 1Malaysia 2010 is RM1,000 with a maximum of RM50,000 per subscriber.
Sukuk 1Malaysia 2010 can be subscribed at most commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Agrobank. Allocation of Sukuk 1Malaysia 2010 will only take place after the close of the subscription period. All subscribers will be allocated with an amount less than or up to the amount subscribed, depending on the total number of subscribers and the total subscriptions received. Successful applicants will be notified by their agent banks on the amount of Sukuk 1Malaysia 2010 allocated to them. Profit payments will be made on a quarterly basis through the sukukholders' accounts with their agent banks.
Resaleable Feature of Sukuk 1Malaysia 2010
Beginning 22 June 2010, investors can sell and purchase the sukuk at agent banks. The purchase of sukuk is based on a first-come first-served basis, with no maximum limit, subject to the availability of the sukuk sold by existing sukukholders. Members of the public can obtain information on the availability of Sukuk 1Malaysia 2010 and the daily prices through the Bon Info Hub website by visiting www.bondinfo.bnm.gov.my or to check with their agent banks.