IslamicFinance.de

Islamic finance is making further foray in non-Muslim countries in Southeast Asia. The Islamic Bank of Thailand (branded as IBank) announced it will more than double its branches. Etiqa Insurance & Takaful, the insurance division of Malaysian banking group Maybank, has been granted an operation licence in Cambodia. IBank plans to add 60 more branches to its network to reach 100 outlets nationwide. The branch expansion aims not only at increasing the share of Muslim customers of Ibank and support Muslim career development by creating new banking jobs, but also at attracting foreign investors, particularly from the Middle East.