Maybank Singapore launches Shariah-compliant banking products

Products to finance residential and commercial and industrial properties in Johor, Melaka, Kuala Lumpur and Penang.

Maybank Singapore Islamic Banking said the new products, Islamic Home Financing and Islamic Commercial and Industrial Property Financing, were introduced by Maybank President and Chief Executive Officer Abdul Wahid Omar.

Both products are available for owner-occupied or investment properties, and come with a minimum financing of $100,000.

Abdul Wahid said Maybank Singapore is also in discussions with the Central Provident Fund Board to allow home buyers to use their CPF savings for Islamic finance home loans.

The two new products bring to 11 the number of Shariah compliant products available to Maybank Singapore customers.