THE government has announced the maturity and full redemption of its two-year Sukuk Prihatin, which was launched on September 22, 2020.

Finance Minister Tengku Zafrul Abdul Aziz said Sukuk Prihatin, which had to be upsized by RM166.42 million due to an overwhelming response, had a final total subscription value of RM666.42 million.

“Proceeds from the issuance were channelled to the Covid-19 Fund to finance, among others, 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 the pandemic,” he said in a statement today.

“In upholding the spirit of Keluarga Malaysia, the government will channel the entire donated contributions totalling RM2.6 million to Akaun Amanah Bencana which will support, among others, the repair of damaged infrastructure and public facilities and financial relief for victims of natural disasters.

“The government’s highest appreciation extends not just to all sukuk holders, but also other members of Keluarga Malaysia who had rallied together to support the nation weather the public health and economic storm at the height of the pandemic.”

Sukuk Prihatin was established in response to calls for contributions to the country’s recovery efforts during the Covid-19 pandemic. 

In the year it was launched, the Islamic Finance News named it the Overall Deal of the Year, Most Innovative Deal of the Year and Malaysia Deal of the Year. 

It was also recognised by Alpha Southeast Asia as the Best Digital Sukuk at the 14th Annual Best Deal/Solution Awards 2020.

Maybank was the primary distribution bank for Sukuk Prihatin which was accessible via the digital banking platforms of 27 banks. – Bernama, September 24, 2022.