To encourage banks to go into Islamic finance, the central bank is currently consulting the industry on how best to implement a workable capital level for non-Islamic banks or conventional banks to establish Islamic banking units (IBUs). Since releasing the draft circular in mid-June, a Monetary Bo
The Bangko Sentral ng Pilipinas (BSP) will be adopting a “modified” minimum capitalization for conventional or non-Islamic banks planning to set up an Islamic banking unit (IBU) and will allow for a five-year transitory period. The BSP did not indicate the proposed modified capital requirement for
KUALA LUMPUR: Bursa Malaysia Bhd has announced 10 new additions to the constituents of the FTSE4Good Bursa Malaysia (F4GBM) Index and nine new additions to the constituents of the FTSE4Good Bursa Malaysia Shariah (F4GBMS) Index.
KUALA LUMPUR: S P Setia Bhd has applied to Bank Negara Malaysia today to seek its approval for the proposed issuance of renounceable rights issue of new class C Islamic redeemable convertible preference shares (RCPS-i C) to its non-resident shareholders.