IslamicFinance.de

Khazanah Nasional Bhd may sell its stake in Bank Muamalat Malaysia Bhd only after the latter merged with Malaysia Building Society Bhd (MBSB) to form the country's largest full-fledged Islamic bank. Reiterating that it is not taking the lead in negotiations, Khazanah managing director Tan Sri Azman Mokhtar said the country's strategic investment fund is not particular about the structure of the merger, provided the valuations are fair. It has been reported that the merger would be effected via a share swap. There have been various scenarios bandied about on Khazanah's preferred outcome for its 30% stake in Bank Muamalat. DRB-Hicom Bhd holds the remaining 70% of Bank Muamalat.