Islamic Bank was going to be Australia's first purely Islamic bank but decided to surrender its restricted ADI licence due to capital raising challenges.
March 8, 2024The roadmap consists of five pillars, including one focusing on ensuring Islamic banking places emphasis on social welfare alongside profitability.
November 30, 2023The BSP has asked Saudi Arabian banks to help promote and develop Islamic banking and finance in the Philippines.
September 8, 2023The BSP is offering relief from minimum capital requirements to incentivise conventional banks to develop the Islamic banking market.
April 4, 2023The main risk which is unique to Islamic banks is Shariah compliance risk - where noncompliance with Shariah rulings carries "significant reputational risk".
July 6, 2022The BSP is proactively approaching local and foreign lenders to ascertain whether they are interested in establishing Islamic banking units.
April 1, 2021CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.
January 24, 2020Herbert Smith Freehills breaks down Malaysia's new framework for digital banks, comparing the regime to those in Singapore and Hong Kong.
January 14, 2020The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.
January 6, 2020Foreign financial institutions will be allowed to hold a majority stake, but preference will be given to applications where Malaysian nationals own the controlling equity interest.
December 28, 2019