Deutsche Trustees Malaysia Berhad (DTMB) has obtained a Shariah-compliant certification for its Islamic trustee business operations, from Amanie Advisors Sdn. Bhd, a leading Shariah advisory firm.

DTMB’s Islamic assets under management have grown by 68% between 2015 and 2018, and the company remains a key player in the Islamic market in Malaysia, having been appointed as trustee for 13% of the Islamic collective investment schemes in the market.

Richard Lim, Chief Executive Officer of DTMB, says, “We are proud to be the first trustee to receive this certification, which will give investors greater comfort in knowing that our processes for Islamic Funds meet the Shariah-compliant standards set by Amanie Advisors Sdn Bhd. By obtaining this certification, DTMB is well positioned to manage Islamic collective investment schemes looking for fully compliant trusteeship.”

“DTMB’s Shariah-compliant certification represents a significant development in the growing market for Islamic funds issued by Collective Investment Schemes. It is estimated that there, the Islamic assets under management rose from 158.83 billion ringgit (US$38.64 billion) in 2018 to 170.07 billion ringgit in 2019.”

Deutsche Bank was named Best Islamic Custodian in 2019 in Malaysia – for the third consecutive year, as part of The Asset magazine’s Triple A Islamic Finance awards.