National Bank of Abu Dhabi (NBAD), the biggest bank in UAE by assets, plans to seek an Islamic banking licence in Malaysia in the future, said its top executive. The Abu Dhabi-based lender wants to expand after starting conventional commercial banking operations here.
“In due course we will apply for an Islamic licence,” its group chief executive Michael H. Tomalin said at a media briefing prior to the official launch of the unit here. He said the company will actively consider Islamic banking in the long term but for now it would focus on building the local market first………………………………………..Full Article: Source