MALAYSIA: The central bank, Bank Negara Malaysia, has announced plans to roll out four nine-day Al-Wadiah tenders worth RM1 billion (US$319.2 million); a 14-day RM400 million (US$127.68 million) tender; a RM300 million (US$95.76 million), 28-day tender and a 34-day RM500 million (US$159.6 million). The tenders are a bid to absorb excess liquidity in the financial system.
It will also tender RM2 billion (US$638.4 million)-worth of overnight Al-Wadiah.
The central bank estimated that as at the 28th August 2012, surplus Islamic funds in the financial system amounted to RM4.48 billion (US$1.43 billion).