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Maybank S'pore inks novel hotel-backed Islamic finance deal

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The Islamic financing deal, worth S$260 million, is backed by a hotel as an underlying security. The hotel, developed by RB Capital, is the 442-room, mid-tier Holiday Inn Express Singapore Clarke Quay.

Singapore

SINGAPORE's fledgling Islamic finance sector received a boost on Monday with Maybank Singapore announcing a first-of-its-kind Islamic financing deal worth S$260 million.

The deal, which has a hotel as the underlying security, was inked between the bank, part of Malaysia's

sentifi.com

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