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NEWS UPDATES 4 March 2010
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German bank receives Islamic banking licence

Deutsche Bank AG has received an international Islamic banking licence from Bank Negara Malaysia (BNM), Malaysia's central bank, reported Indonesia state news agency Antara.

This allows the bank to easily provide Islamic commercial and investment services denominated in foreign currencies to institutional clients throughout Asia, the bank said in a statement here Monday.

Deutsche Bank AG, International Islamic Banking, Malaysia Branch, will provide a range of products, from simple flow requirements to more tailored structures that fit the individual needs of its corporate and institutional clients.

The Chief Country Officer of Deutsche Bank (Malaysia) Bhd Raymond Yeoh said the new licence, would give clients in Asia, better access to its leading global Islamic banking platform.


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