BIMB gets nod to transfer listing to Bank Islam

KUALA LUMPUR: BIMB Holdings Bhd will proceed with the proposed transfer of its listing status to subsidiary Bank Islam Malaysia Bhd to unlock significant value for shareholders.

In an exchange filing today, BIMB said it had received approval from the Finance Ministry and Bank Negara Malaysia for its proposed internal reorganisation and distribution and capital repayment.

Upon completion of the exercise, BIMB said Bank Islam would emerge as the one and only full-fledged Islamic financial institution to be listed in the region, thus enhancing its corporate stature.

"This listing allows 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 added.