Kuveyt Turk mandates banks for debut in Malaysia for max 2 bln ringgit sukuk

ISTANBUL, Nov 18 (Reuters) - Turkish participation bank Kuveyt Turk said it mandated banks to issue sukuk, or Islamic bonds, in Malaysia, aiming to raise as much as 2 billion ringgit ($596.7 million), which will be its first foray into the southeast Asian Islamic debt capital market.

Kuveyt Turk, 62 percent owned by Kuwait Finance House , said in a statement to the Istanbul stock exchange it has mandated CIMB Investment Bank Berhad, Kuwait Finance House Berhad and Maybank Investment Bank Berhad.

The last time Kuveyt Turk was in the market was in June, when it issued a $500 million five-year sukuk that attracted over $3.25 billion in orders.

In July, Turkiye Finans became the first Turkish lender to issue ringgit-denominated sukuk in Malaysia when it raised 800 million ringgit from a 3 billion ringgit programme it set up in June. ($1 = 3.3520 Malaysian ringgit) (Reporting by Seda Sezer; Editing by Ayla Jean Yackley)