KUALA LUMPUR: Malaysia is expected to sustain its momentum this year with the issuance of between RM100bil and RM120bil worth of sukuk this year, driven by infrastructure projects, said RAM Rating Services Bhd (RAM Ratings).
In a statement on Tuesday, the rating agency said the domestic market recorded RM8.4bil of new sukuk in January, up 42.3% year-on-year.
“The Malaysian Government was the largest issuer for the month with RM10bil in conventional and Islamic papers,” RAM Ratings said.
“Islamic securities made up 60% (or RM6bil) of this amount, underlining the Government's continued efforts to enhance the depth of the country's sukuk market,” it said.
RAM Ratings also expected Islamic private debt securities to continue accounting for half of the Malaysian bond market for the year.
(The Star Online / 23 March 2016)---
Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com