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NBAD soars on Malaysia Islamic license plan

Posted on 10 September 2012

National Bank of Abu Dhabi PJSC climbed the most in almost a year after the largest lender in the United Arab Emirates by market value said it plans to seek an Islamic banking license in Malaysia. The shares jumped 4.4 percent, the most since Oct. 30, to 8.83 dirhams at the close in the emirate. The benchmark ADX General Index (ADSMI) advanced 1 percent.
The Abu Dhabi-based lender wants to expand after starting non-Islamic commercial banking operations in Southeast Asia’s third-largest economy in July, Leong See Meng, chief executive officer of National Bank of Abu Dhabi Malaysia Bhd, said in an interview in Kuala Lumpur Sept. 7………………………………………..Full Article: Source

 
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