30.07.2012 - Expect surprises when expanding, banks told
Banks and financial institutions have to tread carefully when expanding their turf in Malaysia or elsewhere as deficiencies in the regulatory environment can throw up surprises. “When it comes to mergers and acquisitions (M&As), a lot of things look good on paper,” RAM Ratings deputy CEO Promod Dass said. Hong Leong Bank Bhd group chief risk officer Justin Soong acknowledged that regulatory loopholes existed when it came to M&As for Islamic banks. “When Hong Leong Islamic acquired EON Islamic last year, it turned out to be the first merger of Islamic banks in the world...............................................Full Article: Source
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