Proposed CIMB, RHB, MBS set to transform finance industry

KUALA LUMPUR: The proposed merger between CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd is set to transform the finance industry as it would create a mega Islamic bank, CIMB group chief executive officer Datuk Seri Nazir Razak said.

He said the Islamic finance industry needed time to reflect where it is heading to as there is too much obsession on non-riba or non-interest issue and more focus should be given on syariah principles, instead of interests issue.