Singapore plans Islamic banking boost

Singapore's Prime Minister Lee Hsien Loong said the country plans legal changes to make it easier for banks to offer Islamic banking services.

The government will revise rules that hinder the offering of products compliant with Islamic principles, Lee, 53, said in an interview on March 18. He expects Singapore to draw investors seeking capital markets investments, private banking services and fund management products.

Singapore-based managers oversee more than $285 billion of assets, and the g