2. CAPITAL ADEQUACY (CONTINUED) 2.1 Capital Management (continued) Table below depicts a summary of the Subordinated Sukuk Murabahah and Sukuk Wakalah Programme of the Group: Capital Instrument Capital Component Main Features 1) Subordinated Sukuk Murabahah Programme of up to RM1.0 billion (Programme 1) • The tenure of both programmes are as follows: i. Programme 1 – up to thirty (30) years from the date of the first issue under the Subordinated Sukuk Murabahah Programme. ii. Programme 2 – perpetual. • The tenure of each issuance of the Subordinated Sukuk Murabahah under both programmes are as follows: i. Programme 1 – shall be not less than five (5) years and up to thirty (30) years from the issue date and provided that the Subordinated Sukuk Murabahah matures on or prior to the expiry of the tenure of the Subordinated Sukuk Murabahah Programme. ii. Programme 2 – shall be not less than five (5) years from the issue date. • Each of the Subordinated Sukuk Murabahah may have a call option to allow the Bank to redeem the relevant tranche of the Subordinated Sukuk Murabahah (in whole or in part) on any periodic profit payment date after a minimum period of five (5) years from the issue date of that tranche, subject to the relevant early redemption conditions being satisfied. • Unsecured. a) Tranche 1: RM300 million at 5.75% • Issued on 22 April 2015 • Mature on 22 April 2025 Note: Tranche 1 was called on 22 April 2020 Tier 2 Capital b) Tranche 2: RM400 million at 5.50% • Issued on 15 December 2015 • Mature on 15 December 2025 Note: Tranche 2 was called on 15 December 2020 c) Tranche 3: RM300 million at 5.08% • Issued on 13 November 2017 • Mature on 12 November 2027 Note: Tranche 3 was called on 14 November 2022 409 www.bankislam.com 1 2 3 4 5 6 7 8 9 FINANCIAL STATEMENTS
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