KUALA LUMPUR – Malaysia’s RM500 million Sukuk Prihatin under the National Economic Recovery Plan (Penjana) was launched in order to support the economic recovery.
The package was launched with a fully digital subscription process as part of the government’s RM35 billion National Economic Recovery Plan (Penjana).
The programme is open to Malaysians over 18 years old. They can subscribed to the programme through JomPay or DuitNow that can also be available through online mobile banking of nearly 30 participating banks nationwide.
The Ministry of Finance (MoF) said in a statement that the sukuk, which is based on the principle of Tawarruq under the the Commodity Murabahah arrangement, has a total allocate budget of RM500 million and a maturity of two years.
The sukuk launch will be attended by Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah. According to the speech of Muhyiddin, the issuance of the sukuk can be subscribed online to support the economic recovery effort from the health crisis. The issuance of the sukuk will be directed in to several programs and intiative such as improvement of connectivity online to rural schools, funding research to the infectious disease and financial support for small and medium enterprises, especially women entrepreneurs.