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23 JulyBrunei DarussalamInternational Shari’ah Research Academy for Islamic Finance (ISRA)
BACKPress Release
17 Jul | Wednesday
The inaugural issuance of Government Investment Issue (GII) under Murabahah contract
Bank Negara Malaysia on behalf of the Government of Malaysia, wishes to announce the inaugural issuance of Government Investment Issue (GII) under Murabahah contract on 22nd July 2013 with an issue size of RM4 billion.
The issuance of GII will be based on Murabahah contract which is essentially a certificate of indebtedness arising from a deferred mark-up sale transaction of an asset, such as commodity (mainly crude palm oil), which complies with Shariah principles.
The primary issuances will continue to be conducted through competitive auction via the Principal Dealer network. Secondary trading of GII will be based on Bay Al-Dayn concept where it involves buying and selling of the securities issued by the Government of Malaysia as evidence of indebtedness.
The issuance of GII will be based on Murabahah contract which is essentially a certificate of indebtedness arising from a deferred mark-up sale transaction of an asset, such as commodity (mainly crude palm oil), which complies with Shariah principles.
The primary issuances will continue to be conducted through competitive auction via the Principal Dealer network. Secondary trading of GII will be based on Bay Al-Dayn concept where it involves buying and selling of the securities issued by the Government of Malaysia as evidence of indebtedness.
source: Bank Negara Malaysia
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