The investment bank will focus on enhancing its clients' shareholder value rather than generating volume or dominating market share, says its group managing director
Malaysia'S banking system remains well capitalised with a risk-weighted capital ratio and core capital ratio at 14.7 per cent and 13 per cent respectively, said Bank Negara Malaysia yesterday.
THE Islamic banking industry will face a very tough time this year as a result of the global financial crisis, possibly even forcing some smaller banks to disappear, an expert says.
KUALA LUMPUR: Malaysia's financial services sector contributed 11.6 per cent to the country's real gross domestic product last year, the Economic Transformation Prgramme's annual report said.
“Interest equals disinterest because the lender has nothing to do with the borrower and his business. Islamic finance aims at creating an economy in which one financial dollar equals one real economy dollar.” Yusuf Talal DeLorenzo, syariah scholar
KUALA LUMPUR: The Malaysian banking sector is expected to shift into lower gear this year but against a resilient economy it will still be fundamentally strong, says RAM Ratings head of financial institution ratings.
KUALA LUMPUR: Barring a sharp global downturn, Islamic financial asset growth will likely maintain its current growth clip over the next 5-10 years as new markets emerge, an industry body said yesterday.
KUALA LUMPUR: Bank Islam Malaysia Bhd expects to attract 100,000 depositors and deposits of RM50 million within the first year ofthe launch of Al-Awfar Junior Savings Account-i for young customers.
RHB Capital (1066), Malaysia's fourth-largest lender, expects slower loan growth and corporate defaults to creep up next year as the local economy slows sharply.
The issue is that Islamic economics have a different premise from conventional banking and applying the same legal principles to decide disputes for both markets does not work.
KUALA LUMPUR: Islamic banks in the country Malaysia have been urged to introduce more short-term syariah-compliant products to attract foreign investors.
KUALA LUMPUR: Al Rajhi Bank Malaysia, currently with a balance sheet of close to RM6 billion, is optimistic of achieving at least a 20 per cent growth this year.
KUALA LUMPUR: Takaful Ikhlas won two international awards and was honoured as the "Best Takaful Provider" from the Islamic Finance News 2011 and Euromoney magazine 2012.
Agrobank, formerly Bank Pertanian Malaysia Bhd, expects its loan portfolio to the rubber industry to grow this year, as demand for the commodity picks up.
BEIJING: Bank of Yingkou Co Ltd, a mid-sized lender based in north-east China, said loans may expand by about a fifth this year, the same as last year, amid stronger competition and tighter regulation.
Maybank is looking to grow its Internet banking division by establishing a presence in all its retail branches in Singapore, the Philippines and Indonesia
The Islamic finance industry is catching up with Malaysia in offering a full range of services, supporting growth in an industry with US$1 trillion (RM3.23 trillion) in assets, said the chief executive officer of CIMB Islamic Bank Bhd (1023).
Standard Chartered Bank Malaysia Bhd's Islamic banking arm, Standard Chartered Saadiq Bhd (StanChart Saadiq), will introduce more wealth management products to meet customers' demand.
Amanah Ikhtiar Malaysia, a non-profit organisation which gives out micro-credit loans to the hardcore poor, aims to disburse loans worth RM1 billion next year.
LET’S take a break from sukuk structuring and stock screening, and talk about the children of parents in Islamic finance. They may well be the industry’s future.
ASIAN banks this year may find it challenging to meet the liquidity requirement under Basel III reforms, particularly in relation to a shortage of high quality liquid assets for banks to hold as liquidity.
Malaysia's central bank has ordered syariah banks to give borrowers a rebate for early settlement under new rules designed to prevent legal disputes and restore confidence in Islamic financing contracts.
Agrobank is going all out to woo budding and existing entrepreneurs to apply loans for its agriculture business projects which includes Walit's bird's nest business.
KUALA LUMPUR: Al Rajhi Bank Malaysia, which has so far provided remittance business services to Indonesia, the Philippines, Nepal and Bangladesh, plans to increase its market share by extending the service to more countries.
SINGAPORE: Islamic finance may have grown at a 15 per cent rate per year in the last decade, but the industry still faces a shortage of skilled and experienced professionals.
Bank Rakyat plans to control 50 per cent of the country's Islamic pawn-broking market estimated at RM2 billion, according to managing director Datuk Kamaruzaman Che Mat.
The appetite for acquisition belies some serious structural concerns that should be dealt with before too many banks return to the acquisition trail, says KPMG in a survey
Bank Islam Malaysia Bhd, the country's oldest Islamic lender, will launch a new structured deposit fund with an initial size of RM300 million this fiscal year, to improve its non fund-based income.
Malaysia, through its Malaysia International Islamic Financial Centre (MIFC) initiative, has launched a global search for the most outstanding contributor to Islamic finance.
The investment bank will focus on enhancing its clients' shareholder value rather than generating volume or dominating market share, says its group managing director
KUALA LUMPUR: The uncertainty and disparity in some areas of Islamic finance can at times be an added cost for industry players or turn them away from it, said a senior Securities Commission (SC) director.
New Year Reflection: This survey highlights the Islamic finance industry's achievement and challenges, future direction, sukuk issuance and halal sector, among others
“When the central bank of Bahrain encourages consolidation of Islamic banks in its home country, it may be just the wake-up call for the industry to direct the conversation towards size,as it matters.”
The government expects banks to help fund projects involving investments of about RM1.4 trillion under the Economic Transformation Programme over a 10-year period in order to achieve Vision 2020.
The current licence allows Industrial and Commercial Bank of China to open four branches, but Malaysia is further liberalising the sector, says Bank Negara
MALAYSIA has what it takes to sustain itself as an international hub for Islamic finance, a senior official of global banking giant Standard Chartered (StanChart) said.
In today’s article, the writer interviews David Loundy, vice-chairman and head of religion- based financing at Devon Bank. Devon is a Jewish community bank in Chicago, offering Islamic finance.
Public Bank's (1295) wholly-owned subsidiary, Public Mutual, is launching two new Islamic funds today - an Islamic equity fund and an Islamic bond fund.
Bank Simpanan Nasional (BSN) is targeting to attract 300,000 users to its Internet banking by end of next year, with about RM6 million transactions to be done online.
STANDARD Chartered Bank Malaysia Bhd expects its mobile banking customers base to double in the next two to five years, said its head of retail banking products Anupam Shrivastava.
Bank Kerjasama Rakyat Malaysia Bhd is looking at the possibility of forming a strategic partnership with a leading cooperative in Brunei as part of efforts to set up operations there, marking its first foray into the foreign market.
KUALA LUMPUR: Indonesia's conventional bank PT Bank Ina Perdana, which is being acquired by Affin Holdings Bhd (5185), will be converted into an Islamic bank - a process that will likely take two years.
Some of the country's bigger banks have announced plans to raise their base lending rates (BLR) next week, following Bank Negara Malaysia's move on Thursday to raise the key policy rate by 25 basis points to 2.5 per cent.
The bank will re-look the name change issue in the second quarter of next year in line with its aspiration to be a lender that offers innovative products and services
KUALA LUMPUR: Islamic banks in Malaysia should start merging to form stronger entities, says the chief of Bank Islam Malaysia Bhd, the country's oldest Islamic lender.
MALAYSIAN banks will offer more customer-tailored products in the future rather than just those in reaction to competition as they improve their risk management processes.
Japan and Hong Kong are now keen to venture into this market and if Malaysian players could become more innovative, they could easily export their expertise, says Zain Ibrahim & Co
The calls for moral and values in financial markets by top world leaders are proof that Islamic finance could assume a role in the global financial system.
THE country's fourth-largest banking group, RHB Capital Bhd (1066), said it hopes to conclude its purchase and subsequent listing of Indonesian lender Bank Mestika Dharma in the third quarter of this year.
Bank Islam Malaysia Bhd (5258) expects the issuance of its multi-functional debit card to increase considerably while its credit card growth to moderate due to stricter credit card requirements.
Islamic banks are struggling to develop hedging tools as religious differences cast doubt on the use of derivatives, exposing the industry to risks of increased volatility as markets deteriorate.
KUALA LUMPUR: An unexpected hike in the Overnight Policy Rate (OPR), coupled with an increase in the Statutory Reserve Requirement (SRR), isn't expected to have much impact on banks' earnings or loan growth, analysts say.
Malayan Banking Bhd (Maybank) expects the banking industry's loan growth to be at 8 per cent next year despite the expected slower global economy growth.
OCBC Bank (Malaysia) Bhd is for the first time offering a new mortgage loan facility to finance the purchase of residential properties in prime sections of Sydney and Melbourne, Australia.
CIMB Bank (1023) plc was officially launched in Phnom Penh yesterday after CIMB Group received a licence to fully operate a 100 per cent-owned subsidiary in Cambodia.
Gatehouse Bank plc, one of five standalone Islamic banks in the UK, says the industry is starting to benefit from the 2008 financial meltdown of conventional banks.
Malaysian billionaire Quek Leng Chan’s latest gamble to gobble up one of the country’s smallest banks could set the stage for a new round of dealmaking in the banking sector.
Islamic finance is now in the third stage of its development that requires the broadening of its acceptability and growing the market, Raja Muda of Perak Raja Dr Nazrin Shah said.
Mizuho Corporate Bank (Malaysia) Bhd, a unit of the Japan's third-largest bank, said it has received the approval from Ministry of Finance and Bank Negara Malaysia for a new commercial banking licence .