On September 5 2023, QI Group, a distinguished multinational conglomerate, unveiled its RM100 million Sukuk Ijarah Program, of which Bank Pembangunan Malaysia Berhad (BPMB) is the primary subscriber. The issuance of Sukuk Ijarah is facilitated through Silver Formula ABS Berhad (SFAB), a special purpose company set-up to undertake the transaction.


This strategic move exemplifies QI Group's unwavering dedication to sustained growth and expansion, with a paramount emphasis on nurturing the evolution of its tertiary education business, Quest International University (QIU) in Gunung Lang, Perak.


The signing ceremony witnessed the presence of our Group Chief Executive Officer (GCEO) Roni Abdulwahab, QI Group’s Executive Chairman Dato’ Sri Vijay Eswaran, along with representatives from both BPMB and the QI Group.


Through this collaborative Sukuk initiative, communities residing in the Northern states of Malaysia are poised to gain access to affordable, yet high-quality educational opportunities—a vision passionately championed by QIU, aimed at enriching local communities.


The infusion of funds resulting from this endeavor will be allocated towards the enhancement of QIU's campus infrastructure, fostering a cutting-edge learning environment that is conducive to academic excellence.


The establishment and development of this new campus holds the promise of serving as a catalyst for profound societal advancement, significantly expanding the accessibility of higher education to everyone.