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).