RHB Bank Singapore targets Islamic financing for hospitality assets

Singapore

FRESH from snagging one of the world's largest Islamic financing deal from Singapore-based Royal Group, RHB Bank Singapore is working on another Islamic funding transaction backed by a popular hotel chain in the city state, said an executive from the bank.

As such, the bank does not view the recent financing deal inked with real estate firm Royal Group for SO Sofitel Singapore - a five-star luxury hotel valued at S$300 million - as a "one-off transaction" in the hotel industry, said Nazmi Camalxaman, RHB Bank Singapore's Islamic banking head, speaking to The Business Times.