RHB Banking Group has introduced Commodity Murabahah Term Financing-i (CMTF-i) Education Financing, a Shariah-compliant solution aimed at helping Malaysian families manage the rising cost of higher education.
The financing, known as RHB Education Financing-i, allows for up to three joint applicants from immediate family members, offering a flexible approach that reduces the financial burden on individual applicants.
Tenures can extend up to 20 years or until the borrower reaches age 70, with a grace period of up to four years during the course of study.
Financing ranges from RM10,000 to RM500,000, covering tuition and related expenses for undergraduate, postgraduate and professional programmes.
Jeffrey Ng Eow Oo, Managing Director of Group Community Banking at RHB, said, “Access to higher education should never be limited by financial constraints. We are committed to playing our part in addressing this national challenge by providing families with practical and ethical financing options.”
RHB Islamic Bank Managing Director Dato’ Adissadikin Ali added that the product is based on the Shariah concept of Commodity Murabahah, ensuring ethical and transparent financing.
The first phase focuses on domestic education, with plans to extend support to overseas studies in the next phase.
The programme is expected to provide Malaysian students and working adults with greater financial flexibility to pursue their academic ambitions.
