Mon Oct 13, 2008 8:14am EDT

Reporter’s Notebook

* More offices in Middle East possible

SINGAPORE (Reuters) – Societe Generale Group’s (SOGN.PA: Quote, Profile, Research, Stock Buzz) private banking arm may open more offices in the Middle East, in addition to its present operations in Dubai, to meet rising demand for sharia assets in the region, a top official said on Monday.

The market for Islamic investments remains largely focused in the Middle East, with demand still yet to catch on in a big way in Asia, said Pierre Baer, SG Private Banking’s chief executive for Singapore and South Asia.

Baer said SG was considering three locations to expand in the Middle East but declined to elaborate.

 

http://www.reuters.com/article/WealthManagement08/idUSTRE49C3PM20081013

 

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