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MIDF gets nod for merger talks with Al Rajhi


MIDF group managing director Datuk Charon Mokhzani said: “We are grateful for the approval from Bank Negara for us to start negotiations.

MIDF group managing director Datuk Charon Mokhzani said: “We are grateful for the approval from Bank Negara for us to start negotiations.

PETALING JAYA: Bank Negara has given its approval for the talks to merge Malaysian Industrial Development Finance Bhd (MIDF) with Al Rajhi Banking & Investment Corp (M) Bhd.

MIDF said it had received a letter from the central bank saying that the latter has no objections for MIDF and its sole shareholder, Permodalan Nasional Bhd (PNB), to start talks with Al Rajhi Banking & Investment Corp for the proposed merger.

   

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