|
Embargo:
For immediate release
Issuance of Sukuk Simpanan Rakyat 01/2009
Ministry of Finance wishes to announce the issuance of Sukuk Simpanan Rakyat 01/2009 amounting to RM2.5 billion on 14 May 2009. This is the first issue of the two series of 3-year RM2.5 billion sukuk each in 2009. 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 RM2.5 billion sukuk, which has a 3-year tenure, offers a return of 5% per annum and provides the flexibility for early redemption before the maturity date.
Those wishing to subscribe may apply for Sukuk Simpanan Rakyat 01/2009 during the sales period, commencing from 14 April to 13 May 2009.
The minimum investment in Sukuk Simpanan Rakyat 01/2009 is RM1,000 with a maximum of RM50,000 per investor. The maximum aggregate holdings per investor for the two series of Sukuk Simpanan Rakyat 2009 is RM50,000. Sukuk Simpanan Rakyat 01/2009 can be subscribed at all commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Agrobank. The allocation of Sukuk Simpanan Rakyat 01/2009 is based on a first-come first-served basis. Successful applicants will be notified by their agent banks. Profit payments will be made on a quarterly basis through the sukuk holders' accounts with their agent banks.
For further information on Sukuk Simpanan Rakyat 01/2009, please contact Bank Negara Malaysia TELELINK at 1300 88 5465 or by visiting www.treasury.gov.my and www.bnm.gov.my/sukuksimpanan . The key features of Sukuk Simpanan Rakyat 01/2009 are as follows:
Key Features of Sukuk Simpanan Rakyat 01/2009
Name of sukuk |
- Sukuk Simpanan Rakyat 01/2009
|
Date of issuance |
- 14 May 2009
- (Sales period 14 April to 13 May 2009)
|
Allocation of sukuk |
- First-come first-served basis
|
Total sukuk size |
|
Sukuk type |
- Sukuk to be based on Shariah principles
|
Profit to investors |
|
Frequency of profit payment |
|
Tenure |
|
Eligible buyers |
- Malaysian citizens who are 21 years and above
|
Minimum holding |
- Minimum holding per investor is RM1,000 at the point of sale and investors may purchase the sukuk in a multiple of RM100 e.g. RM1,100, RM1,200, etc.
|
Maximum holding |
- Maximum aggregate holdings per investor for the two series of Sukuk Simpanan Rakyat 2009 is RM50,000
|
Early redemption |
- Sukuk holders may redeem the sukuk at face value on and before maturity date, but not earlier than the first profit payment. The profit payments will be apportioned based on the number of days held
- Minimum redemption amount allowed is RM100
- The sukuk holders may redeem sukuk in multiples of RM100
|
Sales period |
- One month prior to the issuance date
|
Form of instrument |
|
Agent banks |
- Commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Agrobank
|
Tax exemption |
- Returns on the sukuk to be exempted from tax
|
Transferability and assignability |
- The sukuk is non-negotiable, non-transferable and non-assignable
- In the event of the death of the sukuk holder, the prevailing inheritance law will take precedence
|
Ministry of Finance Malaysia
7 April 2009
See Also:
© Bank Negara Malaysia, 2010. All rights reserved.
Last Updated Date: 17 April 2009
|
|
Index (A to Z) |
Support Link |
FAQs |
Feedback
