The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bloomberg Launches Malaysian Foreign Currency Sukuk Index

Bloomberg executives today announced the launch of the Bloomberg Malaysian Foreign Currency Sukuk Index (BMSSUTR), a non-ringgit denominated index developed in conjunction with Bank Negara Malaysia. The new Bloomberg index provides a global benchmark for the performance of sukuk bonds and the ability to track movements of foreign currency issues.

“The Islamic financial marketplace is growing rapidly and there is high demand for more transparency, pricing, risk and return information,” said Gerard Francis, a Bloomberg Professional service executive. “We believe that this latest index will become the instrument of choice to help investors and fund managers maximize their investments in Shariah finance. It is also another sign of our 20 years of experience and commitment to the region.”

“The launch of the benchmark index for the Malaysian foreign currency sukuk market is timely given the growth of foreign currency sukuk issuances in the country, and this marks another key milestone that will contribute towards internationalization of Islamic finance,” commented Muhammad bin Ibrahim, Deputy Governor of Bank Negara Malaysia.

The BMSSUTR index consists of foreign currency sukuk issues listed on Bursa Malaysia or on the Labuan International Financial Exchange. The index gives fund managers the ability to conduct performance attribution, helping to manage their foreign currency exposure. It includes investment-grade Malaysian foreign currency sukuk priced in U.S. dollars.

Bloomberg recently created another index with the Association of Islamic Banks in Malaysia (AIBIM), the Bloomberg-AIBIM-Bursa Malaysia Sovereign Shariah Index (BMSSI), which provides a benchmark of performance for investors seeking exposure to Shariah-compliant Malaysian Ringgit-denominated Government securities.

The indicies are available on Bloomberg’s Islamic Finance platform (ISLM <GO>), which provides the broadest set of Islamic finance data, analytics and proprietary news.

Related content

WEBINAR

Recorded Webinar: A new way of collaborating with data

Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil their requirements. Emerging solutions with the potential to decrease the cost of data and increase flexibility...

BLOG

Australian Superannuation Fund QSuper Selects Matrix IDM for Integrated Data Management Solution

QSuper, one of Australia’s largest superannuation funds, has selected Matrix IDM’s data management product to provide a fully integrated solution across security, pricing, positions, accounts, risk, performance, and corporate actions data. The fund was looking for an off-the-shelf data warehouse to support a data strategy project that would create a vendor and custodian agnostic data...

EVENT

Data Management Summit USA Virtual

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Best Practice Client Onboarding

Client onboarding is central to the success of banks, yet it continues to present challenges and the benefits of getting it right are difficult to achieve. The challenges arise from siloed systems, manual processes and poor entity data quality. The potential benefits of successful implementation include excellent client experience, improved client acquisition and loyalty, new business opportunities, reductions in costs, competitive advantage, and confidence in compliance.