5 January 2024

Our Banking & Finance Partner, Celine Rangithan together with our Associate, Skylar Yeo recently acted for OCBC Al-Amin Bank Berhad (“OCBC Al-Amin Bank”) in their landmark green financing facility granted to RHB Islamic Bank Berhad (“RHB Islamic Bank”). This ground-breaking facility is the first in Malaysia for a bank to offer a green Islamic foreign currency and bank-to-bank term financing facility. Additionally, the facility is the first to feature a pioneering Islamic term financing using the use-of-proceeds approach in the financial institutions space in Malaysia.

The CEO of OCBC Al-Amin Bank, Syed Abdull Aziz Syed Kechik, expressed that providing term financing to RHB Islamic Bank is a historic facility and marks a significant milestone for both the nation and the bank. This move aligns with the Islamic banking industry's sustainability agenda and value-based intermediation, in accordance with Bank Negara Malaysia's Financial Sector Blueprint 2022-2026, shaping the bank's path towards realizing these ideals.

Meanwhile, the Managing Director of RHB Islamic Bank, Datuk Addissadikin Ali said that "Through this innovative financial solution, we aim to serve our clients and business partners' needs by empowering them with more green financing options that offer competitive rates”.

This deal update was also reported in:
For more insight into this area of law, please contact our Partners in the Banking & Finance practice group:
Loh Mei Mei
Kung Suan Im
Ashela Ramaya
Chan Kwan Hoe
Celine Rangithan

Jayden Chuah

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