DUBAI: The United Arab Emirates’ biggest conglomerate, which is acquiring a major stake in Bank Islam Malaysia Bhd, said it wants to see the bank become one of the world’s top Islamic banks.
Soud Ba’alawy, chief executive officer of Dubai Investment Group (DIG), said its investment in Bank Islam would “open a bridge” between the Middle East and South-East Asia, given the excess liquidity, especially in the Gulf countries. DIG is a subsidiary of Dubai Holding, one of the biggest companies in the Middle East.