Monday, October 21

RHB islamic to provide financing facility to Sarawak mosque body

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KUALA LUMPUR: RHB Islamic Bhd (RHB Islamic Bank) has agreed to offer Lembaga Pengarah Amanah Kebajikan Masjid Negeri Sarawak with a RM300 million Istisna’/Ijarah Term Financing Facility.

RHB said the facility, with a financing tenure of 10 years, is intended for the construction of Baitul Makmur II, an 18-storey office/commercial building located in Kuching, Sarawak.

“Upon completion, Baitul Makmur II will house several Sarawak state ministries,” it said in a statement yesterday.

This deal would represent one of RHB Islamic Bank’s single largest financing loans to Sarawak state-related group of companies and reflects the RHB Banking group’s support to business activities in Sarawak, the bank added. — Bernama