Chief executive Jackson Tai described the four Islamic scholars as among the world's "most prominent" and said they would help the bank better understand Sharia Law.

Islamic finance fuses principles of sharia or Islamic law and modern banking. Funds are banned from investing in companies associated with tobacco, alcohol or gambling considered taboo by Muslims.

The system also bans the earning of interest.

"With the guidance of the four scholars, DBS hopes to be a leading player in the 300 billion US (dollar) Islamic financial market," Tai said at an Islamic banking dialogue organised by the bank.

"Today, we announced the association with four prominent scholars who understand the intricacies, the importance of sharia-compliant financing.

"We'll look to them for advice on how we should approach a stronger participation in the Islamic financing world for DBS."

The four scholars include Sheikh Nizam Mohammad Saleh Yaqouby who is a member of the Sharia Supervisory Board for a number of Islamic banks and institutions.

DBS began its serious foray into Islamic finance last year when the bank was granted a licence to operate at the Dubai International Financial Centre. It has opened a flagship branch there offering wholesale banking products and services.

The Dubai operations have performed strongly and the bank is open to expanding its presence in the Gulf region, Tai said.

"It's only one year but we are doing very well. We are very pleased so far in our success and progress in Dubai," the DBS chief said.

"We will look to see if it makes sense to do other locations over time," he said.

DBS has a significant presence in Asia with a subsidiary in Hong Kong as well as operations in China, India, Indonesia, Malaysia, Thailand and the Philippines.