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.
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