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Malaysian SWF Plans Bank Muamalat Sale

Sovereign wealth fund, Khazanah Nasional, and conglomerate DRB-Hicom are seeking to sell their stake in Bank Muamalat.

Sovereign wealth fund, Khazanah Nasional, and conglomerate DRB-Hicom are seeking to sell their stake in Bank Muamalat, Reuters reports. The sellers have invited Malaysian financial firm, BIMB Holdings, to participate in the process.

BIMB is expecting to receive the central bank’s approval to start negotiations with Khazanah Nasional and DRB-Hicom. Khazanah Nasional owns 30% stake in Bank Muamalat, while the remaining is held by Financial-to-autos group DRB-Hicom.

Click here for the story from Reuters.

Click here for additional coverage from The Borneo Post.

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