16 July 2026
Kuala Lumpur : CIMB Islamic Bank Berhad (“CIMB” or “the Bank”) is proud to partner with Cagamas Berhad (“Cagamas”) in delivering three landmark transactions, marking significant milestones in the Malaysia's Islamic capital markets and supporting Bank Negara Malaysia's vision of advancing the adoption of the Malaysia Islamic Overnight Rate (“MYOR-i”) as the Islamic Risk-Free Rate benchmark.
The successful transactions comprise Malaysia's first MYOR-i-referenced Islamic Medium Term Notes (“Sukuk”), the first MYOR-i-referenced Islamic Profit Rate Swap (IPRS) transaction and the first MYOR-i-referenced Islamic Asset Purchase Transaction under the Cagamas Purchase with Recourse Programme (“PWR Programme”). The transactions include a RM300 million 1-year MYOR-i Sukuk, a RM100 million 5-year IPRS with caps and floors, and a RM250 million PWR Programme. Collectively, these landmark transactions establish key market infrastructure to support the development of a robust MYOR-i ecosystem, while further reinforcing Malaysia's position as a global leader in Islamic finance.
As the lead manager and execution partner, CIMB played a pivotal role not only in structuring and executing the transactions, but also in developing the Islamic market infrastructure necessary to facilitate MYOR-i adoption. This includes benchmark swap curves, transaction documentation and innovative risk management capabilities tailored to MYOR-i-based instruments.
Chu Kok Wei, Chief Executive Officer, Group Wholesale Banking, CIMB said, “CIMB is pleased to partner with Cagamas in executing these significant transactions and enhancing the Islamic capital market’s range of innovative instruments to support corporates in meeting their fundraising requirements. Malaysia’s maiden MYOR-i benchmark issuances by Cagamas set a vital precedent for the market, establishing a framework for future innovation in Sukuk structuring while aligning with Bank Negara Malaysia’s aspiration for the industry to transition towards MYOR-i as market benchmark rate. These achievements reflect our continued efforts to support market development and delivering innovative solutions that meet the evolving needs of our clients, aligned with our Forward30 strategy.”
Kameel Abdul Halim, President/Chief Executive Officer of Cagamas added, “Cagamas is pleased to collaborate with CIMB, a trusted pioneer in both conventional and Islamic capital markets. As the country’s second largest issuer of debt instruments after the Government of Malaysia, we are committed to promoting liquidity and enhancing financing availability within Malaysia’s housing and financial sector. The successful execution of these transactions demonstrates the industry’s collective commitment to strengthening the Islamic financial market ecosystem and expanding the suite of Shariah-compliant funding and risk management solutions available to market participants."
These initiatives reinforce CIMB's commitment to driving innovation in Malaysia’s Islamic financial markets, deepening market liquidity and transparency and enabling the broader adoption of Islamic risk-free rate products. Through close collaboration with Cagamas, regulators and industry stakeholders, CIMB continues to play an important role in shaping the next generation of Islamic capital market solutions and building the resilience of Malaysia’s financial sector.
