Deutsche Bank targets Malaysia with CIMB Islamic custody tie-up
The German bank is targeting clients, including fund managers, who want Shariah custody as regional demand grows and cross-border Asean capital flows increase.
JimMin
December 12, 2023
Deutsche Bank is partnering with CIMB Islamic Bank CIMB Islamic to provide Shariah custody to clients in Malaysia and add to its existing Shariah custody business in the region, according to a December 11 media release.
In addition, Deutsche Bank has new Shariah compliant custody capabilities in Singapore to complement its CustodyOne product. Singapore is seeing growing demand as customers expand their operations across Asean. Deutsche Bank's CustodyOne offering covers 30 markets globally, including 12 in Asia Pacific Apac.
The majority of targeted clients in Malaysia are fund managers governed by the Securities Commission’s guidelines for Shariah capital markets products.
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