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Khazanah Debuts Ethical Islamic Bonds With Annual Sales Planned

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Malaysia’s state-owned sovereign wealth fund is about to test appetite for the nation’s first socially responsible Islamic bonds and plans to issue such debt annually.

Khazanah Nasional Bhd. will start marketing as much as 150 million ringgit ($42 million) of the seven-year sukuk on Monday, Chief Financial Officer Mohd Izani Ghani said in a May 14 interview in Kuala Lumpur. The offering will fund 20 schools in Malaysia, he said, adding that future sale options may include healthcare and affordable housing.