The Labuan International Financial Exchange (LFX) has expanded its range of Islamic investments, with the recent primary listing of its trust certificates issued under the Islamic principle of Sukuk Alljarah.
In a statement, the LFX Chairman and CEO of Bursa Malaysia stated that the listing of the Sukuk signifies the LFX’s growing focus on the Islamic capital market and its ability to cater to the growing demand for listings of both conventional and Islamic financial instruments.
The recent issue is a series of trust certificates comprising of a $350 million floating rate with a maturity of five years.
The certificate is the sixth Syariah-compliant Islamic financial instrument, which now brings the total number of listings on the LFX to twenty-six, with a combined market capitalization of $10.43billion.