Malaysia to Place US$117.20 Million Sukuk to Fund Micro Enterprise, Research for Infectious Diseases

KUALA LUMPUR, June 5 (Bernama) -- Malaysia is set to tap the debt market with the issuance of US$117.20 million (RM500 million) "Sukuk Prihatin" in the third quarter of the year to fund among others micro-enterprises and research grants for infectious diseases. (US$1 = RM4.26) The Sukuk’s theme is from the people to the people. Prime Minister Muhyiddin Yassin in making the announcement Friday said the issuance of the Islamic Debt instrument is to enable the Rakyat (people) to join the government in supporting the post-recovery measure of the COVID-19 pandemic. "Proceeds from the Sukuk issuance will be utilised for specific development programmes such as connectivity of schools (especially in rural areas), funding for micro-enterprises (focused on the women entrepreneurs) and research grants for infectious diseases," he said when announcing the short term Economy Recovery Plan (ERP) here, Friday. The issuance would be done by the Ministry of Finance (MoF). -- BERNAMA