Islamic Finance News Portal – Bringing you the latest updates in global Shariah finance

Watch out for news alert!

Malaysian Islamic banks to merge

leave a comment »

Points of Essence:

  • Islamic banks in Malaysia may face a round of merger within 5 fears from now to be on a stronger footing to fend off stiff competitions with major conventional players.  Bernama has the report.

Islamic Banks May Consolidate In Five Years, Says Banker

KUALA LUMPUR, Nov 18 (Bernama) — Islamic financial institutions in Malaysia are likely to consolidate in the next five years, Maybank Islamic Acting Chief Executive Officer Ibrahim Hassan said Tuesday.
He said the Islamic players were generally small in terms of capital and asset size and they need to consolidate to be on par with conventional players.

“I think there will be some consolidation in the Islamic finance industry (locally),” he said at the 5th Kuala Lumpur Islamic Finance Forum.

“Players are small in terms of capital and asset size and they need to consolidate to challenge counterparts in the conventional side,” he told a session on Evaluating Issues and Challenges in Islamic Finance At The Time of Global Credit Crisis.

Source:BERNAMA

Advertisements

Written by Suapi Shaffaii

November 18, 2008 at 3:58 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: