RHB Islamic To Boost Domestic Operations

15 Safar 1434

KUALA LUMPUR, Dec 28 ,2012- RHB Islamic Bank Bhd aims to strengthen its domestic operations by opening two more branches in 2013, said managing director Abdul Rani Lebai Jaafar.

Currently, RHB Islamic has 14 branches nationwide.

He said the expansion plan was in line with the bank's strategy to expand operational footprint not only in the region but also in the international stage.

"We will continue to diligently focus on strengthening our capability and capacity building. We will also bolster our syariah governance as well as review technology infrastructure requirements," he told Bernama today.

More information: BERNAMA

Malaysia Islamic Banks Ripe for Consolidation

3 Zulhijjah 1433

Malaysia’s Islamic banks are ready for consolidation as they seek ways to cope with rising operational costs, a top official with Bank Muamalat Malaysia Bhd (BMMB) said, signalling a greater acceptance in US$143.64 billion sector for M&As.

Islamic banks in the past have often been reluctant to merge, in part due to resistance from powerful shareholders who fear a loss of control while strains in global financial markets discourage risk-taking.

Islamic finance has grown in leaps and bounds to account for 23.7 percent of Malaysia’s total banking assets although a major aspect is missing — the development of megabanks that can issue ground-breaking products in the same way as conventional banks.

More information : Business Times Malaysia