Maybank Islamic has launched a new Shariah compliant portfolio financing solution, a revolving credit facility for select customers to use with acceptable collaterals to obtain extra funds for their investment requirements.
Offered as a Maybank’s Islamic Wealth Management solution, it said clients can use this Shariah compliant portfolio financing to access funds and invest in both conventional Sukuk and unit trust funds. The credit limit can range from a minimum 1 million (US$208,899) to maximum RM10 million (US$2.09 million).
The fund is specifically designed for sophisticated investors as defined by Securities Commissions Malaysia, holding a minimum asset under management of RM500,000 (US$104,449), said Maybank Islamic CEO Mohamed Rafique Merican.
The Maybank Group presently oversees approximately RM184.7 billion (US$38.58 billion) worth of assets with Islamic portfolios contributing 46% or RM84.2 billion (US$17.59 billion). The bank said it remains committed to aiding its wealth management clients with investment strategies that align with their individual financial objectives, needs and risk preferences.
