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DBS's Islamic Bank of Asia 'to progressively wind down'

Unit unable to achieve economies of scale; DBS to continue developing, distributing products within its main operations

Published Mon, Sep 14, 2015 · 09:50 PM

Singapore

DBS Group Holdings, Singapore's biggest lender, said on Monday that its Islamic banking unit would be progressively wound down.

"After much consideration, the board of directors of The Islamic Bank of Asia Limited (IB Asia) has unanimously agreed to progressively wind down…

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