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Business Today - QI Group Launches RM100 Million Sukuk with BPMB For Its Education Business


KUALA LUMPUR, 5 September 2023


QI Group announced the launch of its RM100 million Sukuk Ijarah Programme, with Bank Pembangunan Malaysia Berhad being the primary subscriber with the primary focus on investing in the development of its tertiary education business, Quest International University.


The upcoming 10-acre Quest International University campus will be equipped with state-of-the-art facilities, promoting a conducive learning environment for students.


Roni Abdulwahab, Group Chief Executive Officer of BPMB added ed: “At BPMB, we ensure all our financing delivers social, economic and environmental impact through our Measuring Impact on National Development (MIND) framework. MIND complements our credit assessment and the development of Quest International University new campus in Ipoh provides an avenue for us to foster impactful development that will increase accessibility to higher education to all levels of society including the lower income group.”


Dato’ Sri Vijay Eswaran, the Executive Chairman of QI Group, expressed his vision for this transformative endeavour, stating, “Investing in the growth of Quest International University goes beyond constructing a prestigious institution; it is about cultivating the leaders of tomorrow. As I often emphasize, education serves as the bedrock upon which great legacies are constructed.


This joint sukuk initiative brings Quest International University one step closer to realising its long-term vision of giving back to communities in the Northern states of Malaysia through affordable, high-quality education.

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