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BIMB gets Bank Negara nod to start talks with Tabung Haji
by Cals Tue 11 Jun 2013, 18:16
Published: Tuesday June 11, 2013 MYT 1:20:00 PM
BIMB gets Bank Negara nod to start talks with Tabung Haji
KUALA LUMPUR: BIMB Holdings Bhd has received Bank Negara Malaysia's (BNM) approval to start negotiations with Lembaga Tabung Haji over the latter's stake in Bank Islam Malaysia Bhd.
BIMB said on Tuesday the approval for the negotiations involved its proposed purchase of Tabung Haji's stake in Bank Islam.
“The negotiations are to be completed on or before Dec 31, 2013,” it said.
BIMB added BNM's consent should not be construed as an approval for the proposed acquisition.
It explained that all parties had to obtain prior approval of the Minister of Finance, with the recommendation of BNM, under the Islamic Banking Act 1983, before entering into any agreement for the proposed acquisition.
BIMB gets Bank Negara nod to start talks with Tabung Haji
KUALA LUMPUR: BIMB Holdings Bhd has received Bank Negara Malaysia's (BNM) approval to start negotiations with Lembaga Tabung Haji over the latter's stake in Bank Islam Malaysia Bhd.
BIMB said on Tuesday the approval for the negotiations involved its proposed purchase of Tabung Haji's stake in Bank Islam.
“The negotiations are to be completed on or before Dec 31, 2013,” it said.
BIMB added BNM's consent should not be construed as an approval for the proposed acquisition.
It explained that all parties had to obtain prior approval of the Minister of Finance, with the recommendation of BNM, under the Islamic Banking Act 1983, before entering into any agreement for the proposed acquisition.
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