JAYA: BIMB Holdings Bhd will proceed with its proposed group restructuring exercise and transfer its listing status to its subsidiary, Bank Islam Malaysia Bhd.
BIMB has received approvals from the finance minister and Bank Negara Malaysia in relation to the proposed internal reorganisation and distribution and capital repayment. Upon completion of the proposed exercise, BIMB’s listing status will be transferred to Bank Islam, which will emerge as the only full-fledged Islamic financial institution to be listed in the region.
“This listing will allow Bank Islam to better position itself in the Islamic finance and Islamic capital market and capitalise on the growth of both markets in its efforts to expand its customer base,” it said in its statement .