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Malaysia’s Islamic banks ripe for consolidation-Bank Muamalat

Posted on 19 October 2012

Malaysia’s Islamic banks are ready for consolidation as they seek ways to cope with rising operational costs, a top official with Bank Muamalat Malaysia Bhd said, signalling a greater acceptance in US$143.64 billion sector for M&As.
Islamic banks in the past have often been reluctant to merge, in part due to resistance from powerful shareholders who fear a loss of control while strains in global financial markets discourage risk-taking. Islamic finance has grown in leaps and bounds to account for 23.7% of Malaysia’s total banking assets although a major aspect is missing — the development of megabanks that can issue ground-breaking products in the same way as conventional banks………………………………………..Full Article: Source

 
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