KUALA LUMPUR: Permodalan Kelantan Bhd has issued RM35 million in social sukuk, marking Malaysia's first such issuance by a state agency and the first in Kelantan.
The issuance was made under its RM300 million sukuk Wakalah, following its inaugural RM265 million sukuk issuance in November 2025, which was also the first sukuk in Kelantan.
Maybank Investment Bank Bhd acted as the sole principal adviser, lead arranger, lead manager and sustainability structuring adviser, while Maybank Islamic Bhd was the Shariah adviser and sole subscriber.
Permodalan Kelantan chairman Datuk Ahmad Yaakob said the issuance would provide an important source of financing to expand the company's Ar-Rahn Islamic pawnbroking business and widen access to Islamic financial services.
