Sun rises on Singapore's first Islamic bank

Singapore welcomed its first Islamic bank on May 7, a sign of burgeoning Islamic banking activity in Asia. The Islamic Bank of Asia (IB Asia) is a joint venture between majority stakeholder DBS Bank and 22 investors from prominent families and industrial groups in Gulf Co-operation Council (GCC) countries.

IB Asia will offer services in commercial banking, corporate finance, capital market and private banking.

The bank will be incorporated with an initial paid-up capital of $418 million, with DBS

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free registration? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here