IslamicFinance.de

Public Islamic Bank Bhd is once more raising funds by tapping an Islamic medium term notes (sukuk murabahah) programme which was set up in 2014, issuing the second tranche of subordinated sukuk amounting to RM500mil after a gap of over three years. In a record with Bursa Malaysia, parent Public Bank Bhd said the takings would be used by Public Islamic Bank Bhd for its working capital, general banking and various other corporate purposes.
The first tranche was already issued in June 2014, also amounting to RM500mil with a tenure of 10 years. The coupon rate then was 4.75% p.a. The current tranche has a coupon rate of 4.65% per year, with maturity date of Aug 3, 2027.

Bank Negara has approved the joint application by Public Bank Bhd (PBB), Public Islamic Bank Bhd (PIBB) and ING Management Holdings (M) Sdn Bhd for a family takaful licence.
ING and the PBB group began their 10-year strategic bancassurance alliance in 2008.