Malaysia’s central bank still reviewing Islamic mega bank bids

Bank Negara Malaysia is offering up to two new Islamic banking licences to foreign firms to set up banks with at least $1 billion of paid-up capital. The industry hopes that this will spur more lending and create bigger Islamic banks that can compete with global lenders.
Bankers say the bid to create a well-capitalised Islamic bank has been fraught with difficulties such as a struggle to raise sufficient capital and disagreement as to where the lender should be located.

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