MIDF may become an Islamic financial institution

The MIDF Group, which is the investment banking and asset-management arm of Permodalan Nasional Bhd (PNB), could be converted into a full-fledged Islamic financial institution and make its way back to the stock exchange after being taken private a decade ago.

PNB group chairman Tan Sri Abdul Wahid Omar says these are possibilities as part of the state-owned, fund-management company’s efforts to support the promotion of Islamic finance services in the country.