Bank Muamalat to open 1st Islamic bank in China

Malaysian Bank Muamalat announced the launch of the first Islamic bank in China. The project is planned to be realized in a two-years' time in team with Bank of Shi Zui Shan of China. The new bank will be situated in the autonomous region of Ningxia Hui. Its role will be to contribute to the development and promotion of Islamic banking in the region.