Al Amanah Islamic Bank wants to establish a strategic partnership with the banks through the sale of a 49% stake or the entire bank to a foreign entity with expertise in Islamic banks, according to the thestar online.
Maybank told a Philippine’s based newspaper that it is looking for viable options in order to enhance and strengthen its footprint further in the Asia-Pacific region.
"Riding on Maybank Group’s strong presence across Asean, including in the Philippines, and in line with Maybank Islamic’s aspirations to further entrench our regional footprint, we are always open to opportunities in new markets," Maybank added.
"We aim to grow our Islamic business in markets like Indonesia and Singapore as part of our focus on the Asean region. Our Islamic banking operations, meanwhile, will focus on delivering innovative and globally accepted products and services that differentiate us from other Islamic financial institutions."
Maybank Islamic is a member of the Maybank Group, and is the largest Islamic commercial bank in the Asia-Pacific region and 17th globally.
