IslamicFinance.de

Malaysia plans to tap the global Islamic bond market for a second consecutive year, joining Indonesia that’s planning a sale in March. Banks have reportedly been asked to submit proposals by next week for a benchmark dollar-denominated offer. Malaysia sold $1.5bn of US currency sukuk in April 2015, its first international bond issuance since 2011. The ringgit is the best-performing emerging-market Asian currency over the past three months as exports have held up and the government managed to keep its budget deficit within target even as oil prices slumped. Indonesia plans to offer Shariah-compliant sovereign dollar notes in March.