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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Malaysia’s AMMB says to buy Islamic banking unit for $428.5 mln

Posted on 22 February 2011

From Reuters: AMMB Holdings says to buy 100 percent of Islamic banking unit from AmBank (M) Bhd, another unit, for 1.3 billion ringgit ($428.5 million).
Says proposed acquisition part of group’s ongoing capital management strategy to enable it to address the impact of the planned introduction of new capital regulation under Basel 3, and to streamline the group’s shareholding structure……………………………………….Full Article: Source

 
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