Retail Sukuk RM500 million will be issued 3Q:2020. It is a 'war bond like.' The purpose is to help selected impacted sectors post-COVID by providing the social safety net. It is part of the RM35 billion Economic Recovery Plan (ERP) announced by the Prime Minister on June 7, 2020. According to the Finance Minister, the Sukuk Prihatin rate of return might be lower than MGS (Malaysian Government Seccurities). I think this is a good step in Sukuk literacy education to the general public. The Sukuk would be offered to the public, individuals (retail) and corporations. Let's be patriotic.
The US, Canada, Germany and UK issued similar instruments to revive their economy. In Asia, Malaysia is the first country to issue the corona bond/pandemic bond. I do hope the implementation process would ensure the targeted groups receive the benefits as intended.
Can't wait to see the response.
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