|
|
|
|
|
Ref No: 03/2007
DBS receives confirmation to proceed
with the set up of first Islamic bank in Singapore
SINGAPORE, 30 MAR 2007 - DBS Bank (DBS) today received confirmation
from the Monetary Authority of Singapore that it is prepared to
grant a new bank licence to a DBS joint venture company to set up
Singapore's first Islamic bank. The Islamic bank's shareholders
will comprise DBS, as a majority shareholder, and prominent investors
from the Gulf Cooperation Council (GCC) countries. The Islamic bank
will initially offer corporate, capital market and private banking
services.
Further details will be announced when DBS receives final approval
for the joint venture Islamic bank from the Monetary Authority of
Singapore.
About DBS
Headquartered in Singapore, DBS is one of the largest financial
services groups in Asia with operations in 15 markets. The largest
bank in Singapore as measured by assets, and a leading bank in Hong
Kong, DBS AA- and Aa2 credit ratings are among the highest in
the Asia-Pacific region. DBS has leading positions in consumer banking,
treasury and markets, asset management, securities brokerage, equity
and debt fund raising. Beyond the anchor markets of Singapore and
Hong Kong, DBS serves corporate, institutional and retail customers
through its operations in China, India, Indonesia, Malaysia, Thailand
and The Philippines. More information about DBS Group Holdings and
DBS Bank can be obtained from our website www.dbs.com.
|
|
|
|
 |
|
|
|
|