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Article: Malaysia : Petronas 5-yr $1.5bn sukuk heralds a new era in Malaysia.
- Article from:
- TendersInfo
- Article date:
- August 24, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
The recent 5-year $1.5 billion Sukuk Al-Ijarah (leasing sukuk) issued by Malaysian state oil company, Petroliam Nasional Bhd (Petronas), marks a new era of bond and sukuk (Islamic securities) issuance in the country.
From now on, all foreign currency denominated issuances ? both conventional and Islamic bonds ? will be designated the "Emas" (gold) symbol, which, according to Bank Negara Malaysia, the central bank, will provide greater visibility to the Malaysian market for the raising of funds by local and foreign corporations and symbolizes "universal value and security".
"In Malaysia, the sukuk component has grown to be ...