asianbankingandfinance.net - It will comprise of four business units namely, Trustee Services and Products, Custody, Corporate Agency, and Fund Accounting.
Speaking at the launch of the services, Badlisyah Abdul Ghani, Executive Director and Chief Executive Officer, CIMB Islamic said that in view of the burgeoning increase in global Islamic assets, there is an urgent need for the establishment of an integrated Islamic securities services platform.
“Research has revealed that overall Islamic asset management industry has grown at an astronomical rate of 20% per annum, bringing it to amount to USD292 billion in 2009. The recent shift from traditional investments [such as equities and real estate funds] to investments in new alternative asset classes [such as shariah-compliant exchange traded funds and hedge funds] further evidences critical untapped opportunities for local and international service providers,” explained Badlisyah.
Badlisyah revealed that the Group’s trustee services have garnered over 20 years of experience in numerous types of landmark investment schemes and customised trust solutions, all of which have earned them the credibility of being industry experts.
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