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Maybank is pleased to advise that Maybank's application for an OBU Branch licence in Bahrain has been approved by the Bahrain Monetary Agency on May 19, 2001. Maybank will proceed with the necessary registration with the Directorate of Commerce and Companies' Affairs at the Ministry of Commerce and Industry, Bahrain.

The OBU Branch will undertake conventional banking with an Islamic window. It will complement Maybank's offshore banking subsidiary, Maybank International (L) Ltd, in Labuan as part of Maybank's Islamic banking network. It will act as a distribution arm for Maybank International (L) Ltd for Islamic banking products and services which will provide investment opportunities for investors in the Gulf region/Middle East.

Maybank hopes that it will contribute to the flow of economic capital between the Gulf region/Middle East and Malaysia (including Labuan). Maybank would like to attract more foreign capital, especially from Islamic countries, to invest in Malaysia.

Maybank's OBU Branch in Bahrain will be the 94th overseas branch of the Maybank Group. Currently, Maybank has 93 overseas branches in the following countries: Singapore, Brunei, Hong Kong, United Kingdom, United States, China, Cambodia, Papua New Guinea, Indonesia, Vietnam and Philippines.