Islamic Banking

Maybank Launches Islamic Banking Centre In Singapore

Vanessa Doctor, Asia Editor, 5 September 2010

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Maybank Singapore has launched a new Islamic banking centre at its Geylang Serai branch.

Geylang Serai is the area that is most populated with Malay-Muslims in the city state. The launch is in line with the bank's 50th anniversary celebration this year, which aims to reach out to more potential clients in various financial industries, particularly in terms of financial planning and wealth management. The branch will cater to both Muslims and non-Muslims, the bank clarified.

Maybank began its Islamic banking operations in Singapore in 2005 and was the first bank to introduce Shariah-compliant passbooks and online saving accounts in the country. Singapore is the bank's second largest operation in Southeast Asia, with assets of $26.3 billion.

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