ID :
189006
Thu, 06/16/2011 - 11:58
Auther :
Shortlink :
https://oananews.org//node/189006
The shortlink copeid
ELAF BANK'S OFFICE IN KL IN LINE WITH LONG-TERM STRATEGY, SAYS CEO
KUALA LUMPUR (Bernama) - The opening of a branch office in Malaysia is in line with Bahrain-based Elaf Bank's long-term business strategy, said its chief executive officer (CEO), Dr Jamil El Jaroudi.
In a statement Thursday, Jamil said the bank was developing its business through two hubs covering the Gulf Cooperation Council and Middle East and North Africa region and South-East Asia, as a two-way business corridor.
"Being a wholesale Islamic bank headquartered in the capital of Islamic finance in the Middle East (Bahrain), the logical next step would be to open our first international branch office in the capital of Islamic finance in South-East Asia (Malaysia)," he said.
Elaf Bank has been granted a licence by the Ministry of Finance to open a branch office under the Malaysia International Islamic Finance initiative.
El Jaroudi said the bank planned to start its operations here immediately.
Meanwhile, Elaf Bank operates as a wholesale Islamic bank in Bahrain with a paid-up capital of US$200 million.
In a statement Thursday, Jamil said the bank was developing its business through two hubs covering the Gulf Cooperation Council and Middle East and North Africa region and South-East Asia, as a two-way business corridor.
"Being a wholesale Islamic bank headquartered in the capital of Islamic finance in the Middle East (Bahrain), the logical next step would be to open our first international branch office in the capital of Islamic finance in South-East Asia (Malaysia)," he said.
Elaf Bank has been granted a licence by the Ministry of Finance to open a branch office under the Malaysia International Islamic Finance initiative.
El Jaroudi said the bank planned to start its operations here immediately.
Meanwhile, Elaf Bank operates as a wholesale Islamic bank in Bahrain with a paid-up capital of US$200 million.
