Bank Islam takes over BHB’s listing status, becoming ‘first pure-play, full-fledged Islamic finance stock’ | Malay Mail

Bank Islam takes over BHB’s listing status, becoming ‘first pure-play, full-fledged Islamic finance stock’KUALA LUMPUR, Oct 8 — Bank Islam Malaysia Bhd became “the first pure-play, full-fledged Islamic financial institution listed on Bursa Malaysia’s Main Market” today after taking over the listing status of BIMB Holdings Bhd , marking the completion of the Islamic banking group’s restructuring exercise.

“BIMB is embarking on a five-year business strategy roadmap to deliver the promise of technology, redefine growth and work in new ways to address the unprecedented challenges brought upon by the Covid-19 pandemic,” said BHB and BIMB chief executive officer Mohd Muazzam Mohamed in a statement today. Mohd Muazzam explained that the listing also opens opportunities for investors to participate directly in the equity and future growth of the new Bank Islam group, which includes BIMB Investment Management Bhd and BIMB Securities Sdn Bhd.

“As the world continues battling the Covid-19 pandemic, the group pursues its focus on integrating the principles of Shariah, Value-based Intermediation and environmental, social and governance considerations to remain resilient and promote financial inclusion for all,” the bank said.

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