IslamicFinance.de

Malaysia Building Society Bhd (MBSB) is on track to obtaining a full-fledged Islamic banking licence, that will come together through a merger with Bank Muamalat Malaysia Bhd. Plans were being laid out to realise MBSB’s goal to get a full-fledged Islamic banking licence. This comes seven months after news-grabbing three-way merger between MBSB, CIMB Group Holdings Bhd and RHB Capital Bhd fell through in January. In May this year, MBSB was reportedly eyeing Kuwait Finance House (M) Bhd as an option for a merger exercise. One of MBSB’s setbacks as a non-conventional bank is its inability to tap low-cost funds from the money market that are accessible to conventional banks.