News Formal

Bank Pembangunan, Danajamin to start talks on proposed merger | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

KUALA LUMPUR, Dec 23 — Bank Pembangunan Malaysia Bhd (BPMB) and Danajamin Nasional Bhd have obtained Bank Negara Malaysia’s (BNM) approval to commence negotiations for the government’s proposed merger involving the country’s Development Financial Institutions (DFI). Under the 2020 Budget,...

Screengrab of the Bank Pembangunan Malaysia Bhd website bpmb.com.my.

Under the 2020 Budget, the government proposed that BPMB, Danajamin, Export-Import Bank of Malaysia Bhd and Small Medium Enterprise Development Bank Malaysia Bhd would be restructured and merged to strengthen the DFI eco-system. “The restructuring plan will be implemented in two phases — the first phase involving the merger of BPMB with Danajamin, and the second phase is to merge Exim Bank and SME Bank into the earlier merged entity,” said BPMB in a statement today.

The Steering Committee comprises representatives from the relevant stakeholder ministries, namely the Economic Affairs Ministry , Entrepreneur Development Ministry, International Trade and Industry Ministry, Credit Guarantee Corporation, BNM and the four DFIs.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank Pembangunan, Danajamin get nod to commence merger talks | The Malaysian InsightThis follows the govt's plan to strengthen the country’s development financial institutions.
Source: msianinsight - 🏆 8. / 63 Read more »

European Investment Bank slams slow industrial response to global warming | The Malaysian InsightThe bank says the effects of climate change have been known for decades but businesses have chosen to do nothing.
Source: msianinsight - 🏆 8. / 63 Read more »