IslamicFinance.de

RAM Ratings has assigned an A3/Stable rating to Bank Muamalat Malaysia's proposed Up to MYR 1 billion Subordinated Sukuk Murabahahh Programme. The proposed Sukuk is Basel III-compliant and will qualify as tier-2 capital. The bank aims to continue concentrating on personal and corporate financing this year while de-emphasising its home-financing portfolio, given the competitive mortgage segment. Bank Muamalat has made significant strides in cost savings, which had contributed to higher y-o-y pre-tax profits in 9M FY Mar 2016. Profitability, however, remains weak compared to peers.