CIMB ISLAMIC SEES GREAT POTENTIAL IN SUKUK ISSUANCE BEFORE YEAR-END

KUALA LUMPUR, Aug 24 (Bernama) -- CIMB Islamic sees a healthy pipeline of
Sukuk issuance before the year-end and is confident the value of sukuk raised
will surpass that of last year.

"So far, US$9.76 billion (US$3.11 billion) worth of sukuk were raised this
year and 26 per cent of them were led by CIMB Group," said CIMB Islamic Chief
Executive Officer Badlishah Abdul Ghani.

Last year, US$20 billion (US$6.38 billion) worth of sukuk were raised
globally.

The global sukuk market is gradually recovering from the recent financial
crisis, he said at the Islamic Development Bank's RM1 billion Sukuk listing on
Bursa Malaysia (Malaysia's stock exchange) here Tuesday.

The programme has a 10-year tenure and is rated AAA by Standard &
Poors. CIMB group is one of the lead joint arranger/manager for the
programme.

Meanwhile, Bursa Malaysia Chief Executive Officer Yusli Mohamed Yusoff said
the local bourse, infact, remained the world's top sukuk listing destination in
terms of value since 2009.

As of year to date, the sukuk listing recorded a total of US$21.7 billion
worth of sukuk programme, of which three were foreign issuers.

He said there was greater awareness among issuers of Malaysia's offering,
as the market has an advantage in terms of pricing competitiveness in comparison
with other markets in the Gulf Cooperation Council (GCC) and Europe.

"Moreover, in light of the recent global financial crisis, Asian markets are
considered more resilient and regarded by many as the preferred destination to
issue Islamic securities to raise funds," said Yusli.
-- BERNAMA