BANKING - Plan To Issue Mega Islamic Bank Licences Still In Progress

KUALA LUMPUR, March 8 (Bernama) -- Bank Negara Malaysia's (BNM) plan to issue up to two mega Islamic bank licences is still on progress, says its deputy governor, Datuk Mohd Razif Abdul Kadir.

"The plan is still in progress. We need to find the right investors," he said, when asked on progress of the plan to issue mega Islamic bank licences. (source)

BANKING - MEGA BANK - Malaysia's central bank still reviewing Islamic mega bank bids

Malaysia's central bank said on Wednesday it was still reviewing offers to set up mega Islamic banks, suggesting it could miss its target of awarding a licence this year as the industry struggles to create a well-capitalised sharia lender.

Bank Negara Malaysia is offering up to two new Islamic banking licences to foreign firms to set up banks with at least $1 billion of paid-up capital, a move that the industry hopes will spur more lending and create bigger Islamic banks that can compete with global lenders.