Shariah-compliant banking products to finance property acquisitions.
Maybank Singapore Islamic Banking has launched two new Shariah-compliant banking products for buyers in Singapore intending to purchase residential, commercial and industrial property in Kuala Lumpur, Johore, Melaka and Penang.
The product, called “Islamic Home Financing and Islamic Commercial and Industrial Property Financing,” is available for owner occupied or investment properties and comes with a minimum financing of US$100,000.
The two new products bring to 11 the number of Shariah compliant products available to Maybank Singapore customers.
Maybank President and CEO Datuk Seri Abdul Wahid Omar said Maybank Singapore is also in discussions with the Central Provident Fund Board (CPF) to allow home buyers to use their CPF savings for Islamic finance home loans.
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