Bank Islam five-year plan to be revealed Wednesday


“Further updates on the restructuring status, the post-restructuring plan and the way forward for the financial services group will be revealed next week on April 21, ” Bank Islam chief executive officer Mohd Muazzam Mohamed (pic) told reporters on the sidelines of the bank’s AMAL Ihtimam Ramadan Bank Islam 2021 programme on Saturday.

PETALING JAYA: Bank Islam Malaysia Bhd’s parent company BIMB Holdings Bhd is on track to complete its restructuring in August and will reveal details on its five-year post-restructuring plan on April 21.

“Further updates on the restructuring status, the post-restructuring plan and the way forward for the financial services group will be revealed next week on April 21, ” Bank Islam chief executive officer Mohd Muazzam Mohamed told reporters on the sidelines of the bank’s AMAL Ihtimam Ramadan Bank Islam 2021 programme on Saturday.

BIMB Holdings is in the midst of a restructuring exercise that will see Bank Islam taking over its Main Market listing status. On Tuesday, the group disclosed that it would issue 222.22 million new shares, representing 12% of its issued share capital, under its private placement exercise which would raise RM795.6mil. Lembaga Tabung Haji is the controlling shareholder of BIMB Holdings with a 53.14% stake.

Meanwhile, in conjunction with Ramadan this year, Bank Islam has allocated about RM174,000 for social welfare programmes to benefit people from all walks of life, including the Covid-19 frontliners such as members of the media who deliver the latest news to the public. Bank Islam also donated RM5,000 in zakat (tithe) to Masjid Jamek Kampung Baru, Kuala Lumpur, for the benefit of the local community. ─ Bernama

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