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H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and President of Dubai International Financial Centre attended the official opening of the first overseas branch of Maybank Islamic Berhad (Maybank Islamic), the largest Islamic Bank in Malaysia and the ASEAN region by assets size, in Dubai at DIFC, the leading international financial hub in the Middle East, Africa and South Asia region.

Maybank Islamic is the Shariah-compliant division of Malaysia’s largest lender Malayan Banking Berhad (Maybank), and one of the leading arrangers in Bloomberg’s Global Sukuk League Table. Maybank Islamic’s total assets stood at more than US$57.35 billion as of 30 September 2019.

Commenting on the occasion, Sheikh Maktoum bin Mohammed said: "Islamic Finance is a key element of Dubai’s economic strategy based on His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai's vision for a new phase of transformative growth in the next 50 years. The establishment of the first overseas office of Malaysia’s largest Islamic bank in Dubai is an acknowledgement of Dubai’s pivotal role at the heart of the Islamic economy and the strong advantages it offers institutions who base themselves here."

"Over the coming decade, Dubai aims to further consolidate its role as the capital of the rapidly growing Islamic Economy sector, which currently caters to the needs of about a quarter of the world's population. By building this sector, we look forward to creating new economic opportunities and establishing new partnerships that can bolster not only the development of the region but also the strength and sustainability of the global economy."

Maybank Islamic was granted the full Islamic banking licence from the Dubai Financial Services Authority in July 2019, to open a branch in the DIFC making it Malaysia’s first Islamic bank to have a foreign presence.