SC to introduce SRI Sukuk framework
The Securities Commission will introduce the Framework of Socially Responsible Sukuk Instrument or Social Responsible
Investment (SRI) Sukuk to finance various sustainable and responsible investment initiatives, Prime Minister Datuk Seri Najib Razak said today.
He said Malaysia's position as a leader in the Islamic capital market is an advantage to attract funds and issuance of securities.
To enhance global competitiveness, efforts will be intensified to promote the country as a market for SRI, he said when tabling Budget 2014 in Parliament.
In addition, the government will establish a SRI Fund, to be invested in listed companies which will demonstrate high accountability, transparency and sustainability, including inclusiveness in diversity encompassing gender, age and ethnicity, he added.
"For a start, Valuecap will allocate RM1 billion to invest in companies that score high on the Environmental, Social and Governance Index (ESG).
"I trust this will encourage more companies to show high commitment towards social responsibility," said Najib, who is also the Finance Minister.
ESG is among measures to be implemented to raise the profile of listed companies which have high socially responsible practices.-- Bernama