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ISLAMIC BANKING | Cesar Tordesillas, Malaysia

Markets determine Islamic mega bank licence applications: Bank Negara

Bank Negara Malaysia said applications for Islamic mega bank licences willbe determined on business viability.

The entity described applications as market-driven and private sector-led.

"Those entities exploring the possibility of participating as an investor will determine their own course of action based on their assessment of the business viability of the investment," it said in a statement.

Stringent criteria and assessments by BNM will be applied on prospective investors and the licensee as required by the law, it said.

BNM said entities applying for Islamic mega bank licences are required to meet all the existing rules and regulations set by the central bank.

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