Malaysia is set to tap the debt market with the issuance of RM500 million "sukuk prihatin" in Q3 2020 to fund, among others, micro-enterprises and research grants for infectious diseases.
Prime minister Muhyiddin Yassin announced today that the issuance of the Islamic debt instrument is to enable Malaysians to join the government in supporting post-recovery measures of the Covid-19 pandemic.
"Proceeds from the sukuk issuance will be utilised for specific development programs such as connectivity of schools (especially in rural areas), funding for micro-enterprises (focused on women entrepreneurs), and research grants for infectious diseases," he said when announcing the short-term economic recovery plan.
The issuance would be done by the Ministry of Finance.
- Bernama
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