Etiqa Takaful issues 300 mln ringgit sukuk

KUALA LUMPUR Fri May 30, 2014 10:46pm EDT

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KUALA LUMPUR May 31 (Reuters) - Etiqa Takaful Bhd, Malaysia's largest takaful (Islamic insurance) operator and a unit of Maybank, has raised 300 million Malaysian ringgit ($93.37 million) with an Islamic bond, the first from an Islamic insurer.

Proceeds from the 10-year sukuk will go toward funding general business operations and working capital, Etiqa Takaful said in a filing to the central bank on Friday. Maybank Investment Bank advised the deal.

($1 = 3.2130 Malaysian ringgit) (Reporting By Al-Zaquan Amer Hamzah; Editing by Matt Driskill)