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Bank Islam named Malaysia s strongest Islamic retail bank
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Bank Islam named as Malaysia s Strongest Islamic Retail Bank for 2020 by Cambridge IFA
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PETALING JAYA: Bank Islam Bhd will be taking over BIMB Holdings Bhd
’s (BHB) listing status following approval by the Finance Ministry (MoF) and Bank Negara.
In a filing with Bursa Malaysia, BIMB said the transfer of its listing status is part of a restructuring exercise that would unlock “significant value” for its shareholders.
The group said it received the approvals from the MoF and the central bank in relation to its proposed internal reorganisation and distribution and capital repayment.
“Upon completion of the proposed exercise, BHB’s listing status will be transferred to Bank Islam, which will emerge as the one and only full-fledged Islamic financial institution to be listed in the region, and enhance its corporate stature.