Bangkok Post – IBank finally flourishes

Over the past two decades, the Islamic Bank of Thailand (IBank) has faced numerous challenges in becoming the sole financial institution in the country to provide sharia-compliant financial services in accordance with Islamic principles, says president Thaweelap Rittapirom.

IBank has carved out a clear niche market and maintained a balanced approach between its role as a state-owned bank and its growth aspirations, he said.

The Thai government has consistently supported the bank by increasing its capital, and the Finance Ministry now holds almost 100% of its shares. This support aims to ensure the Muslim community in Thailand has access to a sharia-compliant banking…