Two-year RM500m Prihatin sukuk launched with 2% annual profit rate

KUALA LUMPUR (Aug 18): The Sukuk Prihatin programme, touted as the first ever digital sukuk in Malaysia, was launched today as part of the government’s National Economic Recovery Plan (Penjana).

The sukuk, which is based on the principle of Tawarruq via the Commodity Murabahah arrangement, has a total target issuance of RM500 million with a maturity period of two years, said the Ministry of Finance (MoF) in a statement today.

It offers a profit rate of 2% per annum, which will be paid on a quarterly basis and will be exempted from tax.

“The syariah-compliant sukuk issuance is established in response to requests by various parties to contribute towards the country's recovery efforts. To that end, the government decided that the sukuk issuance is a transparent and appropriate instrument in response to those requests,” said the MoF.

“Sukuk holders have the option of donating the principal amount upon its two-year maturity.

Read more at: https://ifikr.isra.my/news/post/two-year-rm500m-prihatin-sukuk-launched-with-2-annual-profit-rate