CIMB plans to offer microloans in Malaysia
Lender is moving into new areas after collapse of planned merger with RHB Capital and Malaysia Building Society
Add BT as a preferred source
Kuala Lumpur
CIMB Islamic Bank Bhd plans to start offering microloans in Malaysia as it seeks new growth avenues after delaying plans to create a syariah-compliant megabank.
"We are exploring the undertaking and are looking to launch something, subject to relevant approvals, by this year," Badlisyah Abdul Ghani, chief executive of the Kuala Lumpur-based Islamic unit of CIMB Group Holdings Bhd, the top sukuk arranger in 2014, said in a Jan 22 interview. "We have a full range of Islamic products and services and this is the missing piece for us to become a universal bank."
TRENDING NOW
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Should you sacrifice some CPF Life income in favour of ILPs? Tread carefully
