Industry executives agree in private that there are too many Islamic banks in Malaysia with a population of 27 million. This means that local Islamic banks, ideally, can merge and become bigger entities that can grow across borders.
IT LOOKS like we probably have to wait a little bit longer to find out who will win the two licences to set up mega Islamic banks in Malaysia. With a requirement of at least US$1 billion (RM3 billion) in capital, the announcement has been delayed since last year.
The two are set to be foreign-owned. News reports have talked about Bahrain's Al Baraka Banking Group's plan to head a group that will launch a US$10 billion (RM30 billion) Islamic bank.(full story)
The two are set to be foreign-owned. News reports have talked about Bahrain's Al Baraka Banking Group's plan to head a group that will launch a US$10 billion (RM30 billion) Islamic bank.(full story)
