MUFG sees a bright future for Islamic financing

The Japanese megabank has closed its first Sharia-compliant financing with a $35 million facility for a large solar project in Malaysia. And it sees more opportunities ahead.

MUFG sees a bright future for Islamic financing

MUFG’s Malaysian subsidiary closed a M$144 million $35 million Shariah-compliant project financing facility for Tenaga Nasional Berhad’s TNB new large-scale solar LSS plant on January 10.

This marks the first time a Japanese bank has provided project financing via a Shariah-compliant, Malaysian ringgit-denominated instrument, according to a MUFG press release.

“We are honoured to be given the opportunity by TNB to play a role in developing Malaysia’s second largest solar plant,”...

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