Bank of Tokyo-Mitsubishi UFJ plans to issue Sukuk in Malaysia
BTMU has plans to issue Sukuk in Malaysia and hoping to tap the demand in the fast-growing Islamic Capital markets. The bank is considering floating bonds denominated in dollars and yen, with target on Middle Eastern pension funds and Islamic insurance companies. This would mark the first issuance of yen-denominated Sukuk. BTMU expects demand from investors that seek to diversify. A growth in Sukuk could provide a channel for Japan to attract Islamic money.
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