Sukuk Prihatin: From RM500 Million To More Than RM666 Million; Proof Of Malaysians’ Solidarity In Supporting Economic Recovery Efforts

Sukuk Prihatin, a Government initiative under the National Economic Recovery Plan (PENJANA) has been oversubscribed, registering a total subscription of more than RM666 million, surpassing its initial target issuance size of RM500 million. In response to the encouraging demand from eligible subscribers, the Government has decided to upsize the total issuance by an additional RM166 million.

This Sukuk was introduced by the Government to provide an opportunity for the rakyat to contribute to the nation’s rebuilding efforts due to the Covid-19 pandemic. The subscription period opened on 18 August 2020 and closed on 17 September 2020. Proceeds from Sukuk Prihatin will be channeled to Kumpulan Wang Covid-19 for the implementation of recovery measures such as enhancing connectivity to rural schools, supporting research on infectious diseases and financing micro-entrepreneurs.

Sukuk Prihatin was offered through JomPay and/or DuitNow, accessible through the digital banking platform of 27 banks in Malaysia, with Maybank as the main distributing bank. The online subscription is a commendable achievement, and made history as the first-ofits-kind digital Sukuk in Malaysia.

The Government would like to thank all Malaysians who subscribed to the Sukuk Prihatin. The oversubscription and successful issuance of Sukuk Prihatin is testament to Malaysians’ solidarity and cooperation in facing this challenging period, in line with the #MalaysiaPrihatin spirit. The Government believes that embodying the spirit of ‘we are all in this together’ is what makes Malaysia a stronger nation.

The subscription period ended on 17 September, and the Sukuk Prihatin will be issued on 22 September 2020 with a maturity period of two years. It offers a profit rate of of 2.0% per annum, which is tax-exempted and will be paid on a quarterly basis. Sukukholders also have the option to donate the principal amount either in part of in full upon its maturity on 21 September 2022

Tengku Dato’ Sri Zafrul Tengku Abdul Aziz
Minister of Finance
Putrajaya
20 September 2020