KUALA LUMPUR, Bank Islam Malaysia Bhd has launched its second tranche of additional Tier-1 capital sukuk wakalah from its RM5.0 billion Sukuk Wakalah Programme amounting to RM250 million Perpetual Non-Call five years. In a filing with Bursa Malaysia today, the bank said the Sukuk Wakalah Programme has been assigned and reaffirmed a long-term rating of A3 by RAM Rating Services Bhd. 'Proceeds from the sukuk wakalah would be utilised to finance its general working capital requirements and/or other general corporate purposes. 'The sukuk wakalah shall qualify as the Tier 1 regulatory capital of Bank Islam in compliance with Bank Negara Malaysia's Capital Adequacy Framework for Islamic Banks (Capital Components),' said the bank. Bank Islam is the principal adviser, lead arranger, lead manager and shariah adviser for the Sukuk Wakalah Programme. Source: BERNAMA News Agency