Islamic Finance News Portal – Bringing you the latest updates in global Shariah finance

Watch out for news alert!

Singapore’s OCBC launches Islamic unit in Malaysia

leave a comment »

Points of Essence:

  • Singapore based OCBC Bank has set up its Shariah compliant banking subsidiary in Malaysia. Known as OCBC Al-Amin, the subsidiary will be operational on December 1. Reuters reported.

SINGAPORE, Nov 11 (Reuters) – Oversea-Chinese Banking Corp, Singapore’s third largest lender, said on Tuesday its Malaysian unit had launched an Islamic banking subsidiary that will start operations on Dec 1.

Called OCBC Al-Amin, the Islamic unit is licensed to offer the full range of Shariah-compliant universal banking services including Islamic hire-purchase and Shariah-compliant corporate finance activities. (Reporting by Kevin Lim; Editing by Anshuman Daga)



Written by Suapi Shaffaii

November 11, 2008 at 3:18 pm

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: