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CIMB Islamic
launches first
syariah-compliant
product in HK CIMB Islamic chief executive officer Badlisyah
Abdul Ghani said the Hongkong Monetary Author-
KONGKONG: CIMB Islamic, the Islamic banking ity (HKMA) gave its clearance last week for the
arm of Malaysia’s second largest bank CIMB launch of the interbank money product.
Group, yesterday launched its first Syariah-com- “It is important for CIMB Islamic to be here
pliant product in Hongkong and signed the first because Hongkong has great potential as an
transaction with Hong Leong Bank for its Com- Islamic financial market,” he said.
modity Murabahah Deposit. HKMA deputy chief Eddie Yue witnessed the
The product will utilise commodities like crude memorandum of understanding signed between
palm oil, metal or any tradeable commodities as the Hongkong branches of CIMB and Hong Leong.
its underlying asset. – Bernama