May 31, 2014 / 2:48 AM / 4 years ago

Etiqa Takaful issues 300 mln ringgit sukuk

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

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