Maybank and RB Capital ink landmark RM751mil Islamic financing deal

Malayan Banking Bhd (Maybank) and Singapore-based RB Capital inked a S$260mil (RM751mil) Islamic financing deal, one of the biggest Islamic deals in Singapore. The landmark deal involved a 442-room mid-tier Holiday Inn Express Singapore Clarke Quay as the underlying security. The bank is continuously looking at growing its Islamic banking business in the region, especially in Singapore and Indonesia, which each currently accounts for about 5.0% of Maybank Islamic’s revenue. Maybank Group’s Islamic banking business in 2015 surged 20.4% in total income compared to the year before.