Latest news with #MoF
Al Etihad
6 hours ago
- Business
- Al Etihad
Islamic Treasury Sukuk auction for July 2025 attracts bids worth Dh5.35 billion
31 July 2025 19:02 ABU DHABI (WAM) The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, announced the successful completion of the July 2025 auction of the UAE Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) amounting to Dh1.1 issuance forms part of the T-Sukuk issuance programme for the year 2025, as published on the MoF's official auction attracted robust demand from eight primary dealers across both tranches maturing in August 2028 and May 2030. The total bids received reached Dh5.35 billion, reflecting an oversubscription of nearly five times and underscoring the strong confidence of investors in the UAE's creditworthiness and Islamic finance auction results highlighted competitive, market-driven pricing with a Yield to Maturity (YTM) of 3.88% for the August 2028 tranche and 3.95% for the May 2030 tranche, on par with comparable US Treasuries at the time of Islamic T-Sukuk programme plays a vital role in supporting the development of the UAE's dirham-denominated yield curve, offering secure investment instruments for a wide range of investors. Furthermore, it reinforces the local debt capital market, contributes to the development of the broader investment landscape, and supports the UAE's long-term economic sustainability and growth objectives.
New Straits Times
a day ago
- Business
- New Straits Times
RON97 drops to RM3.17, RON95 and diesel unchanged
KUALA LUMPUR: The retail price of RON97 petrol has been reduced by four sen to RM3.17 per litre for the period July 31 to Aug 6. In a statement today, the Finance Ministry (MoF) said the retail price of RON95 petrol remained unchanged at RM2.05 per litre, while diesel prices also remained unchanged throughout the country - at RM2.15 per litre in Sabah, Sarawak and Labuan, and RM2.91 per litre in the peninsula. MOF said the prices were set based on the weekly retail pricing of petroleum products, using the Automatic Pricing Mechanism (APM) formula. "The government will continue to monitor global oil price trends and take appropriate measures to safeguard the welfare and well-being of the people," the statement said. – BERNAMA
Malay Mail
2 days ago
- Business
- Malay Mail
MoF: Basic affordable health insurance scheme concept to be completed by December 2025, with rollout targeted for end-2026
KUALA LUMPUR, July 30 — The development of the basic Medical and Health Insurance/Takaful (MHIT) product concept is targeted for completion by December 2025, with implementation planned for the end of 2026. According to the Ministry of Finance (MoF), the structure and design of the product have yet to be finalised. 'Currently, active engagements with key stakeholders are ongoing to ensure that all feedback on the design features of the MHIT product aligns with the principles of affordability and long-term sustainability of the basic MHIT product,' the ministry said in a written reply published on the Parliament website yesterday. The MoF was responding to a question from (Rtd) Navy Commander Nordin Ahmad Ismail (PN-Lumut), who sought clarification on the government's consideration of allowing the public to use their Employees Provident Fund (EPF) Account 2 savings to finance health insurance. He also inquired about how the government's proposal would help ease medical costs and the timeline for its implementation. The ministry explained that the government, through Bank Negara Malaysia, the Ministry of Health, and MoF, has introduced the RESET strategy as a strategic framework to address rising healthcare costs and private insurance. One of RESET's key pillars is to enhance MHIT by developing a basic insurance and takaful product that offers more sustainable and stable long-term premiums. The MoF emphasised that purchasing this basic product is voluntary and the use of funds from EPF Account 2 is just one of the existing financial options available to users for buying insurance and takaful coverage. 'Once the basic MHIT policy is finalised, EPF is prepared to consider enhancements to the i-Lindung facility to allow the use of Account 2 funds for purchasing the MHIT basic product in the future,' it added. — Bernama
Daily Express
2 days ago
- Business
- Daily Express
Employees Provident Fund income drops 13% due to weaker equity markets, says MoF
Employees Provident Fund income drops 13% due to weaker equity markets, says MoF Kuala Lumpur: The Employees Provident Fund (EPF) saw its investment income fall by 13 per cent in the first quarter of 2025 (1Q 2025), recording RM18.31 billion compared to RM20.99 billion in the same period last year. According to the Ministry of Finance (MoF), the decline was mainly due to weaker equity market performance and had no connection to EPF's sale of foreign assets or increased investments in domestic equities aimed at supporting the ringgit. Advertisement 'The weaker performance was largely driven by rising global trade tensions and the unpredictable trade policies of the United States,' the ministry said in a written reply published on the Dewan Rakyat portal. Although some central banks have begun loosening monetary policy, the MoF noted that investor sentiment remains fragile due to concerns over geopolitical instability, fiscal imbalances, and regional conflicts, all of which have weighed on market confidence. SPONSORED CONTENT The response was issued in reply to a question from Tanjong Karang Member of Parliament Datuk Dr Zulkafperi Hanapi, who had asked about the main factors behind the drop in EPF's income and whether it was tied to the fund's overseas asset sales. The ministry said the impact of current market conditions was reflected in EPF's equity investment returns, which fell by two per cent to RM10.81 billion in 1Q 2025, down from RM14.02 billion in 1Q 2024. Advertisement 'Equities remain the largest contributor to EPF's investment income, making up 59 per cent of the total in the first quarter of this year,' MoF said. Despite the softer performance, the ministry said that EPF will continue to follow a disciplined investment strategy guided by its Strategic Asset Allocation framework to ensure long-term, sustainable returns.
The Sun
2 days ago
- Business
- The Sun
EPF income drops 13% due to weaker equity markets, says MoF
KUALA LUMPUR: The Employees Provident Fund (EPF) saw its investment income fall by 13 per cent in the first quarter of 2025 (1Q 2025), recording RM18.31 billion compared to RM20.99 billion in the same period last year. According to the Ministry of Finance (MoF), the decline was mainly due to weaker equity market performance and had no connection to EPF's sale of foreign assets or increased investments in domestic equities aimed at supporting the ringgit. 'The weaker performance was largely driven by rising global trade tensions and the unpredictable trade policies of the United States,' the ministry said in a written reply published on the Dewan Rakyat portal. Although some central banks have begun loosening monetary policy, the MoF noted that investor sentiment remains fragile due to concerns over geopolitical instability, fiscal imbalances, and regional conflicts, all of which have weighed on market confidence. The response was issued in reply to a question from Tanjong Karang Member of Parliament Datuk Dr Zulkafperi Hanapi, who had asked about the main factors behind the drop in EPF's income and whether it was tied to the fund's overseas asset sales. The ministry said the impact of current market conditions was reflected in EPF's equity investment returns, which fell by two per cent to RM10.81 billion in 1Q 2025, down from RM14.02 billion in 1Q 2024. 'Equities remain the largest contributor to EPF's investment income, making up 59 per cent of the total in the first quarter of this year,' MoF said. Despite the softer performance, the ministry said that EPF will continue to follow a disciplined investment strategy guided by its Strategic Asset Allocation framework to ensure long-term, sustainable returns. - Bernama
