The Islamic Bank of Asia (IB Asia) was launched by DBS Bank on 7 May 2007 after receiving official approval from the Monetary Authority of Singapore for a full bank licence.Bank Asia started its Islamic Banking operations in December 2008 and now operating five Islamic Banking Windows – 3 in Dhaka, 1 in Chittagong and 1 in Sylhet. The preparation to start Islamic Banking operations in the Bank was as if it were the preparation to start a new bank.