Tuesday, May 29, 2007

New sukuk markets, Islamic real estate

CIMB Group will expand its work on sukuk to countries within the region like Thailand and Vietnam. The group already operates in Singapore, Malaysia and Indonesia with a stockbroking business in Thailand. Nazir Razak, CEO of CIMB Group, said that "it will be logical for CIMB to evolve into a banking franchise in Thailand in the future".

While KFH (Malaysia) Bhd still interested in acquiring a stake in RHB Capital, it has delayed any plans to do so and instead concentrate on organic growth in Malaysia.

Islamic Real Estate Funds (IREF) are a growing alternative investment in the Gulf Cooperation Council (GCC).

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