Bank Islam plans RM1bil sukuk

KUALA LUMUR: Bank Islam plans to raise RM1bil by selling Islamic bonds to fund organic growth as well as a potential acquisition in Indonesia, two people involved in the sale told Reuters.

The country’s oldest and largest Islamic-only bank is wholly owned by BIMB Holdings Bhd, which last month said competition in the Islamic banking sector had narrowed profit margins and brought about the need to raise funds for growth.