IslamicFinance.de

London-based Gatehouse Bank is considering applying for two or three licences in Malaysia in universal banking, investment banking, and or, wealth management to expand its business in Asia. The bank, which recently commenced operations in Malaysia via a representative office in Kuala Lumpur, would closely discuss licensing options with the Securities Commission and Bank Negara, according to chief representative of Gatehouse Bank in Malaysia Richard Thomas. The establishment of the representative office will be the first step in a two-year larger strategic plan to apply for a full-fledged licence. In these two years, the bank will conduct and collect research as well as analyses of the risks and rewards of investing in Asia.