My Bank

"public" banking offer in Islamic finance

The bank offers "retail", ie, public, generally offers the same products than in conventional finance:

  • Deposit accounts;
  • Savings Accounts;
  • Deposits;
  • Dépêts cash;
  • Financing consumer credits, real estate, cars;
  • ...

All these products must be certified by a Sharia Board.

Private bank offer

The range of Islamic finance has a long heritage Customer confined to the retail and supply management companies.

Today, offering Islamic financial products was expanded and follows strong growth in numbers and outstanding. However, the worth clients requires more than the standard, it wants to deal with specialists, is looking for quality products, wants to establish strategies and, especially, is relatively risk-averse.

The asset allocation for that customer requires therefore to appeal to seasoned bankers with excellent knowledge in Islamic finance. The major players in this market are well understood is why the offer in private banking has greatly expanded in recent years.

The table below provides a partial list of private banks in the world whether they are Islamic windows or fully-fledged Islamic banks.

Bank

Type

Date

Location

Abu Dhabi Islamic Bank (ADIB) Islamic Bank (Division dedicated to private banking)   Abu Dhabi
Bahrain Islamic Bank Islamic Bank (Division dedicated to private banking)   Bahrain
BLME Islamic Bank (Division dedicated to private banking) 2009 London (UK)
Faisal Private Bank Islamic Private Banking 2006 Geneva (CH) and world
Amanah Private Bank Islamic window within HSBC Private Bank. - London (UK)

Table 1: Overview of private banks in the world. Source: Ahes Consulting (r) 2010

There is currently no offer in France.

 

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