By NNN-Bernama
Kuala Lumpur : The Jeddah-based Islamic Development Bank (IDB) will make a Sukuk (Islamic bonds) issue of 500 million Malaysian Ringgit (one USD = about 3.22 Ringgit) to finance infrastructure projects.
“This Sukuk will be in the Malaysian market within two to three months,” IDB Group President Dr Ahmad Mohamed Ali Al-Madani told reporters Tuesday after the official inauguration ceremony of the WIEF-UITM International Centre at Malaysia’s Mara University of Technology in Shah Alam, near here.
Meanwhile, the director of the IDB’s Kuala Lumpur regional office, Ahmed S. Hariri, said the bank was expected to provide financing of about 150 million Ringgit for several projects in Malaysia’s East Cost Economic Region and Iskandar Development Region in the southern part of Peninsular malaysia and also for Khazanah Nasional Berhad, Malaysia’s national investment holding corporation.
He said the IDB is also talking to Petronas, the Malaysian national oil and gas corporation, but did not give details.