Malaysia's Public Islamic Bank establishes $1.5 bln sukuk program
KUALA LUMPUR, April 23 (Reuters) - Public Islamic Bank, the sharia-compliant arm of Malaysia's third-largest lender, has set up an Islamic bond program to raise as much as 5 billion ringgit ($1.53 billion).
The subordinated sukuk murabaha is Basel-III compliant and will be treated as tier-2 regulatory capital, ratings agency RAM Ratings said in a statement on Wednesday.
Maybank, RHB Islamic and AmIslamic have also made moves into Basel-III compliant sukuk. ($1 = 3.2670 Malaysian Ringgit) (Reporting By Al-Zaquan Amer Hamzah; Editing by Kim Coghill)
