Search

IN FOCUS
LENDING & CREDIT | Staff Reporter, Malaysia
Published: 09 Mar 12
1585 views


Malaysian and Hong Kong banks to offer Islamic finance in China

Affin Holdings and Bank of East Asia expect their Islamic bank to become operational by 2H12.

Malaysian bank Affin Holdings Berhad and Hong Kong-based Bank of East Asia Ltd (BEA) expect their Islamic or Shariah banking operations in China to become operational by the second half of the year.

“We hope to make a breakthrough this year. It takes a bit of time but Insyaallah (God willing), by middle or end of this year, it will materialise,” said Affin deputy chairman Tan Sri Lodin Wok Kamaruddin.

He said Affin would collaborate with BEA, which owns 23% of Affin. BEA is the biggest foreign bank in China.

Kamaruddin said Affin’s Islamic banking operations in China would be under the brand name, “Affin Bank.”

“It could be in the form of branches we have not finalised on the structure of the operations,” he noted.

Kamaruddin said Affin wanted to further strengthen its relationship with BEA by working with the latter in Malaysia and in China.
 



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Affin Holdings Berhad , Bank of East Asia Ltd (BEA)

PRINT ISSUE »

Subscribe Now
China moves from WMPs to AMPs

23 views

The yin and yang of Qianhai

18 views

Malaysian SMEs snub hedging products

15 views

MOST READ EXCLUSIVES

National Australia Bank unveils Singapore branch

National Australia Bank unveils Singapore branch

Get an inside look through these photos.

by STAFF REPORTER
26 Mar 2014 | 1385 views
 

JPMAM’s new CEO says clients should “re-risk” their portfolios

JPMAM’s new CEO says clients should  “re-risk” their portfolios

Find out why this is urged.

by STAFF REPORTER
31 Mar 2014 | 476 views

Why China is Asia’s economic bellwether

Why China is Asia’s economic bellwether

But it's in for a very bumpy ride.

by STAFF REPORTER
3 Apr 2014 | 367 views
 

Banks vs E-services: Should traditional banking services fear digitization?

Banks vs E-services: Should traditional banking services fear digitization?

Find out what Citi, Maybank, DBS, and other major banks in Asia have to say.

by STAFF REPORTER
2 Apr 2014 | 333 views
close Don't Show Again

STAY INFORMED! Get our free weekly newsletter