BIMB Holdings Receives Approval from Finance Authorities for Proposed Reorganisation and Listing of Bank Islam

In a statement released to Bursa Malaysia on the 10th of December 2020, BIMB Holdings (BIMB) stated that it will now proceed with its group restructuring plan, following approval from the Finance Minister  Datuk Seri Tengku Zafrul Abdul Aziz and Bank Negara Malaysia.

According to the statement, the proposed restructuring plan, which includes an internal reorganisation, along with distribution and repayment of capital, will allow for the transfer of BIMB’s listing status to its subsidiary Bank Islam Malaysia Berhad (Bank Islam).

The transfer of the listing upon completion of the restructuring exercise will allow Bank Islam to better position itself within the realm of Islamic finance, as well as the Islamic capital market given that it will become the only liste...