02.06.2011 - Bank Islam snubs merger bid by Syed Mokhtar’s Muamalat
The board of Bank Islam Malaysia Bhd have rejected a merger with tycoon Tan Sri Syed Mokhtar Al-Bukhary’s Bank Muamalat Malaysia Bhd as they do not see any value in an union with Malaysia’s second Islamic bank, sources have said. The Malaysian Insider understands the directors of the country’s first Islamic bank were initially concerned they would have to accept the merger offer as Syed Mokhtar is seen as a businessman who is favoured by the Najib administration following a string of deals recently..............................................Full Article: Source
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