Bank of Tokyo-Mitsubishi UFJ is keen to foray into Malaysian Islamic finance market with a debut sukuk in the country.
Bank of Tokyo-Mitsubishi UFJ (Malaysia) has launched a $500 million multi-currency program to sell debt complying with Koranic principles, reported Bloomberg.
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In addition, the Japanese bank is also intending to introduce the world’s first yen-denominated sukuk.
With this, Bank of Tokyo-Mitsubishi UFJ has joined its counterparts including Japan Bank for International Cooperation and the North Asian nation’s Aeon Credit Service that launched Islamic bonds in Malaysia.
Earlier in April, Japan Bank for International Cooperation announced its plans to sell its first Islamic bonds to fund a project in Malaysia, while Aeon Credit Service (ACSM) is planning to sell sukuk with no set maturity.
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