CIMB successfully completes its pilot of Malaysia’s first tokenised deposit settlement of tokenised sukuk
Released on: Thursday, 27 Aug 2026 1:58PM
Gracing the event were Minister of Finance II; Bank Negara Malaysia; Securities Commission Malaysia; CIMB, together with other distinguished guests.
KUALA LUMPUR, Aug 27 (Bernama) -- CIMB Group, through CIMB Islamic Bank Berhad (collectively “CIMB”), has completed a pilot to test the settlement of tokenised sukuk using tokenised deposits in a controlled environment.
The pilot was conducted in relation to a RM1.68 billion issuance under CIMB Islamic Bank Berhad’s existing RM10 billion Senior Sukuk Wakalah Programme, with tenors ranging from five to 15 years. Of the total issuance, RM1.38 billion was represented in tokenised form and subscribed by 12 institutional investors, while the remaining RM300 million was issued as traditional sukuk.
In simple terms, tokenisation allows a conventional financial asset such as a sukuk to be represented digitally using distributed ledger technology. When paired with tokenised deposits, which represent commercial bank money digitally, it has the potential to enable greater automation and more integrated settlement of financial transactions. This could ultimately reduce settlement delays, improve liquidity management and make the movement of funds more efficient.
The pilot was undertaken as part of CIMB’s participation in Bank Negara Malaysia’s (“BNM”) Digital Asset Innovation Hub (“DAIH”), which provides a controlled environment for financial institutions to test new digital asset applications. CIMB has also been engaging with the Securities Commission Malaysia (“SC”) on the development of tokenised capital market products. The tokenisation layer does not alter the underlying economic or Shariah structure of the sukuk.
YB Senator Datuk Seri Amir Hamzah Azizan, Minister of Finance II, said the pilot demonstrated how Malaysia could build on its established strengths in Islamic finance and capital markets as financial infrastructure becomes increasingly digital.
“Malaysia has developed deep capabilities in both Islamic finance and the capital markets. The next step is to ensure that these strengths continue to evolve alongside changes in technology and the way financial transactions are conducted.
“This pilot is important because it moves tokenisation beyond theory and tests how digital financial assets and commercial bank money can work together in a controlled environment. The objective is not digitalisation for its own sake, but to explore whether technology can make financial markets more efficient, transparent and connected while preserving strong standards of governance, investor protection and Shariah compliance.
“Close collaboration between regulators and the private sector will remain important as we develop these capabilities responsibly and determine where they can create genuine value for Malaysia’s financial system.”
Novan Amirudin, Group Chief Executive Officer of CIMB Group, said the pilot provided CIMB and regulators with practical insights into the operational, legal and regulatory requirements involved in tokenised financial transactions.
“This pilot allows us to test how tokenised financial assets can operate alongside existing market infrastructure and, importantly, how tokenised deposits can be used for settlement.
“The potential benefits are practical. Greater automation and faster settlement could reduce friction in financial transactions, improve liquidity management and increase capital efficiency. The experience gained from this pilot will help us assess how these capabilities can be developed further in Malaysia and, potentially, across regional and cross-border applications.”
Building Malaysia’s tokenised financial markets
The pilot brings together capabilities across Islamic finance, capital markets, transaction banking, technology, legal documentation, custody and settlement, together with regulatory, rating and Shariah considerations.
The issuance and settlement activities conducted under the pilot will also provide insights into how a tokenised instrument could subsequently support lifecycle events such as coupon distribution, secondary-market transfers and redemption.
The initiative forms part of CIMB’s efforts to develop its capabilities in digital financial assets and explore practical applications of tokenised deposits and distributed ledger technology in financial and capital markets.
SOURCE: CIMB Group
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Tammy Toh/Anis Azharuddin
Group Corporate Communications
CIMB Group Holdings Berhad
Email: tammy.toh@cimb.com / anis.azharuddin@cimb.com
DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.
--BERNAMA