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Page 12 - Mohd Muazzam Mohamed News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Bank Islam to take over BIMB listing status

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.

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