Malaysia's Cagamas sells 75 mln rgt Islamic notes
KUALA LUMPUR, March 4 |
KUALA LUMPUR, March 4 (Reuters) - Malaysian national mortgage firm Cagamas Bhd has sold 75 million ringgit ($20.23 million) of Islamic medium term notes to fund the purchase of sharia housing loans, the company said.
With this issue, the amount of Cagamas debt securities outstanding in the market totals 20.6 billion ringgit, Cagamas said in a statement.
Cagamas issues debt and uses the funds to buy housing loans from financial institutions and the government, enabling the lenders to give out more loans. ($1=3.707 Malaysian Ringgit) (Click on [ID:nISLAMIC] for more Islamic finance stories and ISLAMIC for a speed guide) (Reporting by Liau Y-Sing)
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