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Malaysia : BLME - Size of asset management in global ISLAMIC market to expand

September 4, 2014

Bank of London and the Middle East plc (BLME) CEO , Humphrey Percy has announced that the size of asset management in the global Islamic market would expand from the present 4% due to the growing number of high net-worth investors.

The CEO said there is a major chance for asset management to expand and asked global and local Islamic banking investors to leverage the market.

Percy said : "We think it is a very interesting opportunity for banks to explore the wealth management segment."

He said this on the margins of a ceremony held to sign a memorandum of understanding between the BLME and local Malaysian bank, Bank Muamalat Malaysia.

The British bank is the first to enter a partnership with a local bank to provide Shariah-based private banking services in Malaysia.

The aim it to fulfill the demand of the local and high net worth industry worldwide, through a vast range of Shariah-based wealth management products and services.

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Source: TendersInfo (India)

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