Role in major issuances boosts RHB's credentials in global sukuk market

PETALING JAYA: The RHB Banking Group is keen to participate in more global sukuk issuance after making significant inroads in the market via its units, RHB Islamic Bank Bhd and RHB Investment Bank Bhd (RHBIB), in recent significant global transactions.
"The group continues to actively look into participating in more global Sukuk issuances," RHB Islamic Bank managing director Ibrahim Hassan said in a statement yesterday.
"With the investors' growing comfort with Islamic instruments, the increasing financing needs of some Muslim and non-Muslim countries as well as a desire for stronger investment links with the faster growing economies in the Gulf and Asia will drive further growth in this sector and we at RHB are ready to support our clients' requirements both domestically and on a global scale" he added.
Yesterday, RHBIB co-managed the Government of Hong Kong SAR of the People's Republic of China's inaugural US$1 billion sukuk issuance which also marks the world's first US dollar-denominated sukuk originated by a AAA-rated government.
RHBIB meanwhile was lead manager cum underwriter to IDB Trust Services Ltd's recent 5-year US$1.5 billion sukuk issuance under its US$10 billion (RM32 billion) sukuk programme guaranteed by the Saudi based Islamic Development Bank.
The investment bank capabilities were also recognised by The Asset in their Triple A Islamic Finance Awards 2014 as the Rising Star Sukuk House of the Year in the Asia Pacific region.
Ibrahim said the transactions further reinforced RHB Banking Group's ability and expertise to successfully manage non-ringgit global offerings in various market conditions and drive to position Malaysia to be the market leader in global sukuk issuance.