Permodalan Kelantan Berhad (“PKB”) is pleased to announce that its Social Finance Framework has received the highest recognition i.e. a Gold Rating from MARC Solutions Sdn Bhd, an independent body who carried out the ESG impact assessment on the Framework. This marks an important milestone for PKB in consolidating its position as a pioneer of ar-rahn (Islamic pawnbroking) industry; advancing Shariah compliant social finance initiatives in Malaysia and supporting the issuance of its Sustainable and Responsible Investment Sukuk (“SRI Sukuk”).

The independent assessment by MARC Solutions ensures that PKB’s Social Finance Framework truly adheres to the relevant social finance principles and applicable standards, for the purpose of the SRI Sukuk.

The Gold rating reflects PKB’s unwavering commitment towards establishing a robust and well-structured social finance framework while strengthening transparency, accountability and governance in the management and utilisation of SRI Sukuk proceeds to finance eligible social activities and initiatives in accordance with a duly recognised Social Finance Framework.

 The Social Finance Framework sets out the principles, processes and criteria adopted by PKB for the identification, selection, management and reporting of eligible social projects and activities financed through the SRI Sukuk program in accordance with various specific ESG benchmarks such as the United Nations’ Sustainable Development Goals (UN SDG).

 This achievement of a Gold rating also represents an important step in PKB’s broader efforts to expand the social impact of its financing activities by supporting initiatives that especially benefit the community and generally contribute to sustainable economic development.

For the information and reference of stakeholders and prospective investors, the following documents are available for download: