US Private Equity Firm wants part of RHB Capital
Newbridge Capital Ltd., a unit of Texas Pacific Group, expressed interest in acquiring a 20% stake of RHB Capital from Malaysian state-run pension fund Employees Provident Fund which is in the process of acquiring Rashid Hussain Bhd and announced it will sell part of its holdings in RHB Capital. Kuwait Finance House has also expressed interest in acquiring and operating RHB Capital as a mega Islamic bank.
Brunei hopes to be an Islamic finance hub
At the unveiling of CIMB's Imtiyaz Liquidity Fund in Brunei, the Minister of Finance announced that the government is working to promote a domestic Islamic capital market.
IT important for Islamic funds
Managed funds tech company Charles River believes that technology plays an important role in Islamic finance and particularly Islamic funds because it can allow quick screening of companies for Shari'ah-compliance.