CIMB Group, the Malaysian financial services firm, has launched Islamic securities services in a bid to bolster its position as a provider of shariah-compliant products and services in the Asia-Pacific region.

With the increased interest in Islamic assets globally, the establishment of an integrated Islamic securities services platform has become a necessity, the company said in a statement. The Islamic securities services of CIMB Group has four business units, trustee services and products, custody, corporate agency and fund accounting. 

"The overall Islamic asset management industry has grown at 20 per cent per annum, bringing it to amount to $292 billion in 2009. The recent shift from traditional investments to investments in new alternative asset classes evidences critical untapped opportunities for local and international service providers," said Badlisyah Abdul Ghani, the executive director and chief executive of CIMB Islamic. 

CIMB Group has one of the largest branch networks in the ASEAN with 1,105 branches in eight of out 10 ASEAN nations as of 30 June 2011. It operates through three brand entities: CIMB Bank, CIMB Investment Bank and CIMB Islamic.