SHAPE® contribution in Cagamas’ Publication

Posted on Tuesday, January 21, 2014

January 21, 2014 – Kuala Lumpur:

Cagamas, Malaysia’s National Mortgage Corporation, launched a book entitled “Housing the Nation : Policies, Issues & Prospects”. The book was launched in conjunction with Cagamas’ 25th anniversary. Cagamas buys housing portfolios from financial institutions and issues bond and Sukuk to fund the purchase.

The book contains 15 chapters that covers various issues relating to the housing market. SHAPE® members contributed to Chapter 3 of the book that covers the Sukuk market. The chapter introduces Sukuk, summarises the Sukuk market development and analyses the different Sukuk that Cagamas has issued. Cagamas is an active Sukuk issuer in the market. It has experimented with various form of Sukuk to meet the need of different investors. In the early day, the Sukuk issued by Cagamas were only acceptable in Malaysia. Since 2007 Cagamas has issued Sukuk that meet the global Shariah requirement. In 2010, Cagamas worked with Al-Rajhi to issue a tradable Sukuk according to global Shariah standard and meets the strict requirement of Al-Rajhi’s Shariah Board.

To read further details on the different case studies and the Sukuk market development download the book for free at: http://www.cagamas.com.my/sites/default/files/publications/Housing the Nation-Policies Issues and Prospects.pdf