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Malaysia launches 500 million ringgit sukuk for COVID-19 recovery

FILE PHOTO: Passengers wearing protective masks wait in line at a bus station, amid the coronavirus disease (COVID-19) outbreak in Kuala Lumpur, Malaysia August 11, 2020. REUTERS/Lim Huey Teng

KUALA LUMPUR (Reuters) - Malaysia’s finance ministry on Tuesday launched a 500 million ringgit ($119.45 million) sukuk as part of the government’s efforts to raise funds for their coronavirus economic recovery plan.

The Sukuk Prihatin will be offered on digital banking platforms from Aug 18 to Sept 17, offering a 2% profit rate over a two-year maturity period, according to a statement from the ministry.

Reporting by Joseph Sipalan; Editing by Ed Davies

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