KUALA LUMPUR, April 7 (Bernama) -- The Finance Ministry today announced the issuance of Sukuk Simpanan Rakyat 01/2009 amounting to RM2.5 billion on May 14, 2009.
This is the first issue of the two series of three-year RM2.5 billion sukuk each and it will be issued by Bank Negara Malaysia on behalf of the government, the ministry said.
The sukuk, which will be scripless and based on Syariah principles, is an additional investment instrument for Malaysian citizens who are 21 years and above, it said in a statement.
The sukuk offers a return of 5.0 percent per annum and provides the flexibility for early redemption before the maturity date, the ministry said.
It is available for subscription during the sales period from April 14 to May 13, 2009.
The minimum investment is RM1,000 with a maximum of RM50,000 per investor and the maximum aggregate holdings per investor for the two sukuk series is RM50,000, the ministry said.
It can be subscribed at all commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Bhd, Bank Simpanan Nasional and Bank Pertanian Malaysia Bhd.
Allocation for the sukuk is based on a first-come first-served basis, and successful applicants will be notified by their agent banks.
Profit payments will be made on a quarterly basis via the sukuk holders' accounts with their agent banks.
Those seeking further information can contact Bank Negara's Telelink at 1300-88-5465 or by visiting the websites www.treasury.gov.my and www.bnm.gov.my/sukuksimpanan.
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