Maybank says lack of banking-savvy clerics an impediment to expansion.
Global Banking News - 15 June 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Malaysia-based Maybank Islamic, a unit of Malayan Banking (MBBM.KL) and considered to be Asia-Pacific's largest Islamic bank, has said that the lack of business-savvy scholars is an impediment to expansion.
The bank's chief executive, Ibrahim Hassan said that the bank is planning to grow at double-digit rates for the next five years, and added that the bank has a large customer base. He however said that the lack of business-savvy Islamic scholars was an impediment to this.
Ibrahim also said that the bank was looking at organic growth rather than looking for merger opportunities.
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