MIDF is now a wholly owned subsidiary of MBSB, which has emerged as the second-largest standalone Islamic bank after Bank Islam Malaysia.
In a statement today, MBSB said the purchase consideration has been settled by the issuance of 1.05 billion new MBSB shares at 96.52 sen per share alloted to PNB today. MIDF is now a wholly owned subsidiary of MBSB, which has emerged as the second-largest standalone Islamic bank after Bank Islam Malaysia Bhd.
“By combining the strengths, we are well-positioned to provide customers with better service, innovative products, personalised experiences and even greater sustainability,” said MBSB’s group CEO Rafe Haneef.
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