Bank Islam Malaysia Becomes the First Full-Fledged Islamic Financial Institution Listed in the Main Market of Bursa Malaysia

Bank Islam Malaysia (Bank Islam) has become the first full-fledged Islamic financial institution to be listed in the Main Market of Bursa Malaysia.

Why it Matters?

Bank Islam, taking over the listing status from BIMB Holdings (BHB), completed the restructuring programme of the BHB Group. The programme included distribution and repayment of capital, with the transfer of the entire shareholding held by BHB in Bank Islam and Syarikat Takaful Malaysia Keluarga (Takaful Malaysia) to the shareholders of BHB and finally taking over the listing status of BHB by Bank Islam. BHB would thereafter be a fully owned subsidiary of Bank Islam, the new parent company. The process will also turn Takaful Malaysia into a freestanding Takaful operator.

Mohd Muazz...