KUALA LUMPUR (Feb 20): Middlle Eastern-based Asian Finance Bank (M) Bhd (AFB) and Kuwait Finance House (M) Bhd (KFH Malaysia) indicated their commitment to grow their Malaysian Islamic banking operations despite a competitive backdrop here. MBSB Bank Berhad formerly known as Asian Finance Bank Berhad (AFB) has been granted a license by Bank Negara Malaysia to undertake Islamic Banking business. MBSB Bank is regulated and supervised by Bank Negara Malaysia under the Islamic Financial Services Act, 2013.
KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) is buying Asian Finance Bank Bhd (AFB) for RM644.95 million in cash and new MBSB shares. MBSB, whose controlling shareholder is the Employees Provident Fund with a 65.56 per cent stake, told Bursa Malaysia that the proposed merger would result in it becoming a full-fledged Islamic bank.Author: Ooi Tee Ching. a. 6.85% Asian Finance Bank Berhad b. 6.85% Bank Islam Malaysia Berhad c. 6.85% RHB Islamic Bank Berhad The Highest Base Financing Rate (BFR): a.7.54% Kuwait Finance House (Malaysia.
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