AFB chief executive Datuk Dr Mohamed Azahari Kamil, however, declined to name the targeted bank and said it will be announced once everything was finalised.
"We are in discussion with a local bank in Jakarta. We plan to move into Indonesia in a big way to take advantage of the country's huge population," Mohamed Azahari said after the signing ceremony of a deal between AFB, Hewlett Packard (HP) and Stone Apple Solutions in Kuala Lumpur yesterday.
AFB has a branch in Jakarta as well as local branches in Johor Baru and Kuala Lumpur.
AFB is a full-fledged Islamic bank that has been operational since 2007. It is backed by a consortium of shareholders from leading Middle Eastern financial institutions such as Qatar Islamic Bank, RUSD Investment Bank Inc, Financial Assets Bahrain W.L.L and Tadhamon International Islamic Bank.
AFB has a capital of RM355 million and authorised capital of RM1 billion.
On the agreement with HP and Stone Apple Solutions, Mohamed Azahari said that it was for deployment of a new end-to-end financial management solutions to enhance AFB's business growth.
He claimed that with the new solutions in place, the bank's asset management will grow to almost 30 to 40 per cent by next year.
Mohamed Azahari said the bank had invested RM30 million in information technology since its inception.
Source : http://www.btimes.com.my/Current_News/BTIMES/articles/jrasianb/Article/ - Nov 24, 2010
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