PNB’s next plan for Maybank - creating RM20bil syariah-compliant banking entity

Wahid talking to the media after a luncheon talk with the media. yesterday. - KAMARUL ARIFFIN/The Star

KUALA LUMPUR: In a move to tap into the growing number of Islamic funds, Permodalan Nasional Bhd (PNB) is working on a proposal to carve out a portion of Malayan Banking Bhd (Maybank) shares into a separate syariah-compliant vehicle.

If the proposal comes to fruition, it would create a RM20bil syariah-compliant banking entity – which is almost three times the size of BIMB Holdings Bhd, currently the biggest listed Islamic bank on the stock exchange.