1 The Islamic Bank of Asia
2 DBS Bank
3 Maybank
4 HSBC Amanah
5 OCBC Bank
6 Noor Islamic Bank
Trading
List of Islamic Banks in Singapore
Published by Gbaf News
Posted on April 3, 2013
1 min read· Last updated: June 11, 2018
Key Takeaways
- Singapore hosts both dedicated Islamic banking entities and Shariah‐compliant windows within conventional banks.
- The Islamic Bank of Asia, launched by DBS in 2007, ceased operations by around 2015 due to scalability issues.
- Maybank offers the most comprehensive Islamic banking services in Singapore, including wealth management via its IWM hub.
- OCBC provides Islamic banking accounts locally via its Islamic banking windows.
- Noor Islamic Bank listed is a UAE‐based institution and does not operate in Singapore.
References
Frequently Asked Questions
Is the Islamic Bank of Asia still operating in Singapore?
No, it was launched in 2007 by DBS but progressively wound down around 2015 due to inability to achieve economies of scale ([en.wikipedia.org](https://en.wikipedia.org/wiki/The_Islamic_Bank_of_Asia?utm_source=openai)).
Which banks currently offer Islamic banking services in Singapore?
Maybank and OCBC offer Islamic banking through Shariah‑compliant products and accounts, while DBS offers such products within its main operations ([islamicfinance.sg](https://islamicfinance.sg/ifaisg/?utm_source=openai)).
Does Noor Islamic Bank operate in Singapore?
No, Noor Islamic Bank (now Noor Bank) is based in the UAE and does not have operations in Singapore ([en.wikipedia.org](https://en.wikipedia.org/wiki/Noor_Bank?utm_source=openai)).
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