Deutsche Bank, CIMB team up to expand Shariah-compliant custody services offerings

CIMB Islamic also named Deutsche Bank as its foreign custody services support.

CIMB Islamic Bank and Deutsche Bank have teamed up to provide expanded Shariah-compliant custody services to clients in Malaysia.

CIMB Islamic has also named Deutsche Bank as its foreign custody services support with its  CustodyOne product.

Under the partnership, Deutsche Bank will complement its existing Shariah custody function with CIMB Islamic’s, in order to offer clients in Malaysia regulatory compliant services. 

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The expanded services target fund managers governed by the Securities Commission’s guidelines for Shariah capital markets products.  

This partnership is part of Deutsche Bank’s recent moves to expand Shariah-compliant custody services across Southeast Asia. More recently, the bank launched new Shariah compliant custody capabilities in Singapore.