Local
Foreign
Business
Sports
Leisure
BM
Kadazan Dusun
Archives
Latest News
 
Nst-studio
Classifieds
In_sites_link
Football-link
Smbb-logo
Pakakalaja UPPM id DUN tososondii pinokianu popoingkavas kotoinaan |  Polinta monuhung popointutun om mongunsub kopongukaban seni mogisusuvai media |  SABAH NOKOPONUAT GINUMU KOPOPUVAN OM PIDAGANGAN DI KOPONGUNSUB |  Faedah persaraan: Ramai pesara kerajaan kurang kesedaran |  Aspek keselamatan pekerja perlu jadi keutamaan majikan, kata Lee |  ESSCOM rangka kerjasama strategik m'rakat kampung air Bangau-Bangau |  Kerajaan negeri akan bantu promosi teroka seni pelbagai media |  Cadangan Bank Perumahan beri pinjaman kepada golongan berpendapatan rendah dan sederhana |  Musa: Sabah catat jumlah pelaburan dan perdagangan menggalakkan hingga Jun |  Wilayah Utara Australia yakin MAS akan pulih |  POLIS BERJAYA TAHAN 5 SUSPEK CUBA PECAH ATM |  Lahiri sinks 10 birdies, leads Selangor Masters |  Dennis claims Boys’ Under-9 title |  ‘Sports psychology a must for global success’ |  TABS Safa Bandaraya win Under-16 tournament | 
 Business

Bank Muamalat and Tael partner up to form new Islamic fund in Labuan

2nd June, 2011

KUALA LUMPUR: Bank Muamalat Malaysia Bhd has teamed up with TAEL Partners, an Asean-based investment management firm, to set up a new Islamic fund in Labuan, TAEL Tijari L.P.

In a statement yesterday, Bank Muamalat said the agreement was signed between its Labuan Offshore branch and TAEL One, with both making a commitment totalling US$100 million to a US dollar-denominated sukuk issuance programme.

Bank Muamalat said the proceeds from the programme would be channelled to TAEL Tijari to fund its investments.

“TAEL Partners and Bank Muamalat will be tapping other offshore-qualified investors to raise the size of the sukuk programme over time,” it said.

Bank Muamalat’s chairman, Tan Sri Dr Munir Abd Majid, said the bank’s participation in this venture represented a step forward in diversifying its activities, not only in traditional Islamic banking, but also towards mezzanine or credit-backed funding arrangements on a regional scale.

“It will further enable us to tap on the regional footprint offered by TAEL Partners, which currently has a presence in major capital cities in the Asean region including Kuala Lumpur, Singapore, Jakarta and Bangkok,” he said.

TAEL Tijari is expected to commence operations this month and it will undertake syariah-compliant investments primarily comprising the provision of mezzanine/credit-backed funding arrangements and financing solutions to businesses and corporations in South-East Asia.

   
Email Print
   
 
 
E-browse
Actionline