Malaysia’s national mortgage corporation Cagamas has raised a total of 10.74 billion ringgit ( US$2.42 billion ) in funding for the first quarter of 2025, reinforcing its commitment to supporting home ownership and the growth of the country’s secondary mortgage market.

This marks a significant increase compared to the 3.1 billion ringgit raised in the corresponding period in 2024. The Q1 2025 issuances were supported by robust demand from both local and international investors, reflecting continued confidence in the company’s credit profile and its high-quality bonds and sukuk.

Cagamas was Malaysia’s top sukuk issuer during the quarter, raising 7.73 billion in sukuk issuance, highlighting its leadership in the Islamic finance space.

The funds raised comprised a diversified mix of instruments, including Islamic and conventional debt securities, of which 7.85 billion ringgit was derived from local currency issuances, 1.50 billion ringgit equivalent from foreign currency issuances, and the remaining 1.39 billion ringgit from other funding sources.

“While global market volatility has intensified following the recent US tariff announcement, Cagamas remains committed to a prudent and agile funding approach, which allows us to navigate volatile conditions effectively,” says Cagamas president and chief executive officer Kameel Abdul Halim. “We will continue to monitor global developments closely while maintaining market resilience in supporting the Malaysian housing finance system.”