The Finance Ministry has announced the issuance of Sukuk 1Malaysia 2010 amounting to RM3 billion on June 21 2010. This is an additional investment instrument for Malaysian citizens aged 21 years and above.
Bank Negara Malaysia has been appointed to issue the sukuk on behalf of the government.
The sukuk will be scripless and based on Shariah principles, the Finance Ministry said in a statement.
The RM3 billion sukuk, which has a three-year tenure, offers a return of 5 per cent 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 May 20 to June 9 2010. The minimum subscription 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 Bhd, 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.
