Ministry of Finance was pleased to announce that the Government issued two-year maturity Sukuk Prihatin, which was launched on 22 September 2020 and was established in response to various requests from corporates and individuals to contribute to the country’s recovery efforts during the COVID-19 pandemic was fully redeemed on 22 September 2022.
The Sukuk Prihatin issuance which had to be upsized by RM166,417,500 due to overwhelming response was subscribed by 2,436 individuals and corporate holders, with a final total subscription value of RM666,417,500. Proceeds from the issuance were channeled to the COVID-19 Fund to finance micro credit loans under Bank Simpanan Nasional and TEKUN Nasional, special assistance for students of higher education institutions, e-Commerce campaigns for SMEs and micro enterprises as well as public healthcare expenses in addressing COVID-19 pandemic.
The Sukuk was well recognised for its innovative features, combining digital, retail and charitable elements, it had even won multiple awards including Overall Deal of the Year 2020, Most Innovative Deal of the Year 2020, and Malaysia Deal of the Year 2020 by Islamic Finance News. Maybank was the primary distribution bank, which was made accessible via the digital banking platform of 27 banks in Malaysia, enabling retail investors to subscribe from as little as RM500 to support the nation’s recovery effort.