Approval To Establish An Islamic Banking Subsidiary

Mar 23, 2007 Back
Type Announcement
Subject MALAYAN BANKING BERHAD ("MAYBANK") – APPROVAL TO ESTABLISH AN ISLAMIC BANKING SUBSIDIARY

Contents :

Maybank is pleased to announce that Bank Negara Malaysia ("BNM") has granted its approval-in-principle for Maybank to undertake Islamic Banking business under Section 3(4) of the Islamic Banking Act, 1983 through a subsidiary to be established by Maybank.

Accordingly, BNM has also given its approval pursuant to Section 29 of the Banking and Financial Institutions Act, 1989 for Maybank to establish a subsidiary to undertake the Islamic banking business.

This announcement is dated 23 March 2007.

 

Announcement Info

Company Name MALAYAN BANKING BERHAD  
Stock Name MAYBANK    
Date Announced 23 Mar 2007  
Category General Announcement
Reference No MB-070323-61434