Bank Islam assumes the listing status of BIMB

Bank Islam chief executive officer Mohd Muazzam Mohamed

KUALA LUMPUR: Bank Islam Malaysia Bhd, the pioneer Shariah-compliant bank has become the first pureplay full-fledged Islamic financial institution listed in the Main Market of Bursa Malaysia, taking over the listing status from BIMB Holdings Bhd (BHB).

In a statement Friday, Bank Islam said the listing marked the completion of the BHB group's restructuring exercise, which entailed a private placement exercise, a scheme of arrangement to settle outstanding warrants, and the internal reorganisation of subsidiaries.