Alliance Islamic Bank Raises RM100M Sukuk to Support Future Growth
First Issuance from RM2.5 billion Sukuk Programme
Kuala Lumpur, 1 April 2019 – Alliance Islamic Bank Bhd (“Alliance Islamic Bank” or “AIS”), a wholly-owned subsidiary of Alliance Bank Malaysia Berhad (“Alliance Bank”), made its recent issuance of RM100.0 million Islamic Additional Tier 1 Sukuk Wakalah (“AT1 Sukuk”) under its newly established RM2.5 billion Perpetual Sukuk Programme (“Sukuk Programme”).
Proceeds of the AT1 Sukuk provide the required funding for AIS to fuel its growing Shariah-compliant portfolio and future plans in the Halal and Values-Based Intermediation (VBI) space.
“The launch of the Sukuk Programme is representative of our positive outlook and the opportunities we see with the continued demand for Islamic products and services. With these funds, AIS will be in a firmer position to cater to the current and future needs of our customers,” said Rizal IL-Ehzan Fadil Azim, Chief Executive Officer of AIS.
AIS’ third quarter ended 31 December 2018 performance recorded a 64.8% increase in net profit after tax year-on-year on higher revenue and better asset quality.
Rizal added, “AIS is committed to building a business that generates meaningful social, economic and environmental impact, For this, AIS is, collaborating with like-minded partners to offer solutions for the Halal SME market, and working with social enterprises to address community and environmental issues.”
AIS champions social entrepreneurs through community support programmes such as Eco-Biz Dream Project which recently concluded its third run. This program saw university students from across Malaysia pitching social business ideas to address the riverine degradation of Sungai Kerayong. In the process, the students picked up pointers on how to be successful social entrepreneurs through hands-on practical business knowledge, and working alongside the local community, industry experts and regulators. AIS is also funding the implementation of the winning idea from the University Malaysia Sarawak team which is a plug-and-clean filter that uses bio-char technology.
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About Alliance Islamic Bank Berhad
Alliance Islamic Bank Berhad (AIS) is a wholly-owned subsidiary of Alliance Bank Malaysia Berhad (Alliance Bank), and offers a wide complement of Shariah-compliant products and services for consumers and businesses.
AIS is an ardent promoter and supporter of initiatives that create positive impact on business, the community, and the environment.
For more information on this press release, please contact Agnes Ong, Tel: (03) 2604 3378/012-672 4245, or e-mail [email protected].