ISLAMIC BANK ASSET MANAGEMENT COMPANY LIMITED

The Idea of setting up the Islamic Bank in Thailand emerged from Muslim population’s need for financial services that comply with Shariah principles, especially those residing in the country’s three southern boarder provinces.  In 1998 the government impelled the development of Islamic banking system in many forms to facilitate Thai Muslims in conducting their banking transactions in conformity with Shariah principles. As the government intended to set up an Islamic Bank under the government’s jurisdiction with its own sets of law, the Ministry of Finance was then assigned to draft ‘The Islamic Bank of Thailand Act’, which was later approved by the parliament in October 2002