Islamic Banking
ADIB To Expand Into Asian Wealth Management

Abu Dhabi Islamic Bank has expressed plans to expand its
Sharia wealth management services into Asia, with Indonesia,
Malaysia, and Singapore as key targets, according to
a report by Arabian Business.
"The segment that's growing the fastest is asset management or
investments business and especially targeted towards the affluent
and high net-worth customers," said
Malik Sarwar, ADIB's executive vice president for global
wealth management, on the sidelines of an Islamic banking meet in
Bahrain.
Indonesia and Singapore are two of the fastest growing markets
for Islamic finance, he said. Malaysia, in particular, has been
earning the reputation as the region's hub for shariah compliant
financial products and services.
ADIB was not immediately available for comment when contacted by
WealthBriefingAsia.
Financial firms in the Middle East have been turning to Asia to
seek new opportunities following the major hit incurred by its
local real estate industry in the past weeks. Companies are
hoping to take advantage of the region's rapid growth in an
attempt to pad losses. Just a few days ago,
National Bank of Abu Dhabi had announced that it is opening
its first Asian branch in Hong Kong.