KUALA LUMPUR, March 13 — Alliance Islamic Bank Bhd, a wholly-owned unit of Alliance Bank Malaysia Bhd (Alliance Bank), plans to undertake a perpetual sukuk programme of up to RM2.5 billion in nominal value and a RM300 million Islamic commercial papers (ICP) programme.

Alliance Bank said it lodged the two programmes with the Securities Commission today.

In a filing with Bursa Malaysia, the bank said the sukuk programme comprised a Senior Sukuk Murabahah of up to RM1.2 billion in nominal value; an Islamic Tier 2 Sukuk Murabahah of up to RM800 million in nominal value and an Islamic Additional Tier 1 Sukuk Wakalah of up to RM500 million in nominal value.

“The ICP programme is for the issuance of Sukuk Murabahah of up to RM300 million in nominal value,” it added.

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Alliance Bank said proceeds of the sukuk programmes would be utilised by Alliance Islamic for its shariah-compliant general banking, working capital and other corporate purposes, including the refinancing of any financing incurred and/or any financing instruments issued by Alliance Islamic. — Bernama