IslamicFinance.de

Singaporean Muslims don't have the possibility to apply for Shari’ah compliant home financing in Singapore despite the Shari’ah structures being in place. The Monetary Authority of Singapore has established a range of Shari’ah-compliant Islamic banking contracts including Ijarah wa Iqtina and Diminishing Musharakah.
The Islamic Globe contacted a number of local and international Islamic finance institutions who admitted to a comprehensive lack of products suitable for the man on the street.
Local reports imply that the majority of Maybank Islamic’s customers in Singapore are non-Muslim.