Islamic Bank of Thailand to Expand its Branch Network Increasing Accessibility to Thailand’s Muslim Population

Thailand’s Deputy Finance Minister, Santi Promphat, has given instructions to state-owned Islamic Bank of Thailand (IBank), to more than double its branch network across the country, raising its branch count to 100.

Promphat stated that in order to comply with IBank’s mission and policy, branches should be set up in each district across Southern Thailand, adding that the South of Thailand housed the largest concentration of Muslims in the country, and hence was to be a key focus area within the expansion programme. At present, IBank has 40 branches nation-wide, these being concentrated mostly in the South.

According to a local media report, based on data for the quarter ended March 2020, IBank’s customer portfolio was made up of only 32% Muslims, wit...