Bank Negara allows BIMB's extension until June 30


KUALA LUMPUR: Bank Negara Malaysia (BNM) has given BIMB Holdings Bhd until June 30, 2013 to complete its negotiations to buy Dubai Financial Group LLC's (DFG) 30% stake in Bank Islam Malaysia Bhd.

BIMB said on Monday that BNM "has no objection for the extension of time" after which a formal approval for the proposed acquisition should be sought.

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