X Close


Thursday April 12, 2012

Maybank may be bidding for Philippines’ Islamic bank

PETALING JAYA: Malayan Banking Bhd (Maybank) said it is keeping its options open in bidding for Al Amanah Islamic Investment Bank of the Philippines, the country’s only Islam-oriented commercial bank, a Philippine’s based newspaper reported.

Al Amanah Islamic Bank is looking for a strategic partner through the sale of a 49% stake or the entire bank to a foreign entity with expertise in Islamic banks.

Maybank told the Philippine’s based newspaper that it wanted to expand further in the Asean region while strengthening its hold in the Asia-Pacific region.

“Riding on Maybank Group’s strong presence across Asean, including in the Philippines, and in line with Maybank Islamic’s aspirations to further entrench our regional footprint, we are always open to opportunities in new markets,” said Maybank.

Maybank already operates a commercial bank in the Philippines.

Maybank Islamic Bhd, a member of the Maybank Group, is the largest Islamic commercial bank in the Asia-Pacific and 17th worldwide. It is also into Islamic insurance or takaful.

“We aim to grow our Islamic business in markets like Indonesia and Singapore as part of our focus on the Asean region.

“Our Islamic banking operations, meanwhile, will focus on delivering innovative and globally accepted products and services that differentiate us from other Islamic financial institutions,” said Maybank.


  1. Karpal Singh: He never feared defeat, says Guan Eng
  2. Karpal Singh, my loving husband
  3. A fighter and a gentleman
  4. MERS virus: 64 villagers from Kampung Bintang quarantined for a week
  5. I had no idea it was Karpal, says lorry driver
  6. Penang to give Karpal state-level funeral
  7. Karpal Singh: Khairy tells Perkasa’s Zulkifli to ‘shut up’ over insensitive tweets
  8. Karpal Singh: Lorry driver in crash tested positive for ganja
  9. Karpal Singh: Photo Gallery
  10. Karpal dies: Highly emotional family members arrive at Kampar hospital mortuary