Malaysia’s First Green Sukuk under SC’s Sustainable Responsible Investment Sukuk Framework

July 2017 / Zulkaedah 1438H A number of market development and regulatory efforts have taken place in the African region in recent years as there is a clear set of potentials for Islamic finance to play a role in African countries to diversify their sources of funding. As the world’s largest untapped growth market for Islamic economy, Africa is expected to attract more Islamic finance players in the future to support the governments’ need for raising capital for infrastructure, improve financial inclusion and stimulate economic activities in the region. OTHER HIGHLIGHTS: Malaysia’s First Green Sukuk under SC’s Sustainable Responsible Investment Sukuk Framework Securities Commission Malaysia announced the issuance of Malaysia’s first green sukuk – an innovative channel to address global funding gaps in green financing - under its Sustainable & Responsible Investment (SRI) Sukuk framework. The framework underlying this first green sukuk is the result of collaboration between SC, Bank Negara Malaysia and the World Bank Group, in an effort to develop an ecosystem to facilitate the growth of green sukuk and to introduce innovative financial instruments to tackle global infrastructure needs and green financing. READ MORE HERE Tadau Energy Sdn. Bhd. Issues RM250 Million SRI Sukuk; The First Green Sukuk in Malaysia Tadau Energy Sdn Bhd has successfully issued RM250 million of Sustainable Responsible Investment Sukuk; the first Green Sukuk issued in Malaysia. Tadau Energy’s Green Sukuk Framework has been certified by the Center for International Climate and Environmental Research – Oslo, Norway (“CICERO”). READ MORE HERE Strategy Paper on Value-based Intermediation: Strengthening the Roles and Impact of Islamic Finance Bank Negara Malaysia in collaboration with the Islamic finance industry today released a Strategy Paper on Value-based Intermediation (VBI). This paper articulates strategies to strengthen the roles and impact of Islamic banking institutions (IBIs) towards a sustainable financial ecosystem. The strategies promote the application of VBI practices which will lead to an improved suite of products and services offered by IBIs - for better facilitation of entrepreneurship, community well-being, sustainable environment and economic growth, without compromising on shareholders’ returns.    READ MORE HERE ICD and Saturna Sdn. Bhd. Launch Sustainable Islamic Fund - Fund Enhances Shariah-Compliant Portfolio With Added Sustainable Aims The Islamic Corporation for the Development of the Private Sector, the private sector arm of the Islamic Development Bank, and Saturna Sdn Bhd, a wholly-owned subsidiary of US-based Saturna Capital Corporation, announce the launch of the ICD Global Sustainable Fund, designed for professional and individual investors who seek to align their investment goals with social values and responsible capital.  The launch of the fund contributes towards wider product sophistication and offerings and enhances Malaysia’s position as the marketplace of innovation, expertise and deal flow. ICD serves as one of the Fund’s seed investors and advisor, while Saturna is the Fund’s investment manager. READ MORE HERE Please log on to www.mifc.com or call +603 26923481 for more information. Copyright © 2017 Bank Negara Malaysia. All rights reserved. DISCLAIMER: The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: www.mifc.com. Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.