Local
Foreign
Business
Sports
Leisure
BM
Kadazan Dusun
Archives
Latest News
 
Nst-studio
Classifieds
In_sites_link
Football-link
Smbb-logo
Isu keselamatan Sabah mesti dijadikan isu agenda nasional: Jahid |  Putrajaya mositi poposili ahal kotingoligan id Sabah sabaagi isu nasional |  JKKK mositi saasau monoodo mitingan |  MAAMASO PAVAKASON PIBAASAN POPOIDU KONSTABEL ZAKIA ALIP |  Pengeksport M'sia dinasihat teliti garis panduan baharu halal Kanada |  KYS sokong usaha kerajaan pertingkat mutu pendidikan |  RM100,000 untuk PPK Labuan, kata Rozman |  JKKK perlu adakan mesyuarat lebih kerap bagi selesai masalah penduduk |  Houston ketuai operasi Australia siasat, kumpul bukti nahas MH17 |  MH17: Pemilik akaun FB keluarkan kenyataan bersifat rasis ditahan |  Aktiviti turun padang seawal Bulan Ramadan beri kesan baik, kata Musa |  POLIS GIAT JALANKAN RUNDINGAN BEBAS KONSTABEL ZAKIA ALIEP |  Gerrard retires from internationals |  Fantastic Kelly secures fourth placing in LPGA Classic |  Boost for State archers from physiotherapists | 
 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