Thursday, March 22, 2007

RHB expansion, IFSB meeting in KL, Malaysia and Other News

RHB to expand regionally

Rashid Hussain Bhd subsidiary RHB Bank announced plans to expand into Thailand and Indonesia. The decision follows the sale of RHB and RHB Capital to the Employees Provident Fund (EPF), the Malaysian state-run pension fund.

IFSB meeting on March 26, 2007

Bank Negara Malaysia, the Malaysian central bank will host the Islamic Financial Standards Board (IFSB) meeting on March 26, 2007 in Kuala Lumpur, Malaysia. The IFSB meeting is part of a four day series of conferences, the Global Islamic Finance Forum (GIFF) 2007.

The list of conferences at the GIFF is available on the IHI website "Conference Listing" page

Other News

The Financial Services Authority (FSA) released guidelines (pdf) coming into force on April 6 about organizations offering Shari'ah-compliant home financing programs. The guidelines are included in the Mortgages: Conduct of Business Sourcebook [News story]

IJM Corp Bhd to use Islamic financing for Karachi expressway.

HSBC Holdings plc plans on launching an Islamic private equity fund.

A few statistics about Islamic finance in Malaysia.

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