MALAYSIAN Industrial Development Finance Bhd has received the green light from Bank Negara Malaysia to proceed with negotiations on a proposed merger with Al Rajhi Banking & Investment Corporation (Malaysia) Bhd.
MIDF said BNM has issued a letter stating it had no objections to MIDF and its sole shareholder, Permodalan Nasional Bhd, commencing negotiations with Al Rajhi Banking & Investment Corporation, Kingdom of Saudi Arabia on the merger.
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