IslamicFinance.de

Maybank Islamic, Asia Pacific's largest sharia bank, is not currently seeking a strategic partner, its acting chief said after earlier talk that it would merge with the country's second Islamic bank. Acting CEO Ibrahim Hassan said Maybank Islamic is only interested in partnerships for specific business products such as the joint issue of credit cards. Malaysian financial group BIMB Holdings also denied that it was in talks to merge its sharia banking subsidiary Bank Islam with Maybank Islamic.

Malaysia's RHB Islamic Bank Bhd is set to launch a window in Singapore by year-end, New Straits Times reported on Monday, citing managing director and chief executive officer Ibrahim Hassan. Right now the bank is keen on Singapore and Indonesia mostly, Ibrahim was quoted as saying. Singapore because it is one of the world's most vibrant financial hubs, thus allowing RHB to tap further into capital markets and eventually Indonesia, which has the biggest Muslim population.

Ibrahim Hassan will assume his post as the new CEO and managing director of the RHB Banking Group's Islamic banking arm from Sept 2, 2013. He will be responsible for overseeing the group's overall Islamic banking business and operations including driving its revenue, expanding the group's product range and customer portfolio growth across local and international boundaries. Prior to this, Ibrahim was the president director at PT Bank Maybank Syariah Indonesia. Ibrahim's appointment leaves the RHB Banking Group with only one vacancy – the top post at RHB Bank Bhd. RHBCap group managing director Kellee Kam is currently assuming the responsibilities of RHB Bank managing director in addition to his role at the group level. Earlier this month, RHB Investment Bank Bhd officer-in-charge Mike Chan Cheong Yuen was promoted to be its managing director and CEO.