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Islamic Finance Briefing - Categorized | Banking, Investment more

DRB-HICOM will not exit Bank Muamalat

Posted on 07 September 2012

Conglomerate DRB-HICOM Bhd has no intention of divesting its entire 70 per cent stake in Bank Muamalat Malaysia Bhd as it still wants to be involved in the financial services industry, sources said.
The group, which has other businesses such as automotive, energy and ports, will only pare its stake to a level that is acceptable by Bank Negara Malaysia (BNM). The central bank in 2008 allowed DRB-HICOM to buy the 70 per cent stake in Bank Muamalat on condition that it would eventually sell it down to 40 per cent. ……………………………………….Full Article: Source

 
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