Rajhi’s Malaysian subsidiary enters into preliminary discussion of a merger with another Malaysian entity
Al Rajhi Bank announced that it has entered into discussions to explore the possibility of a merger between one of its fully owned subsidiaries, Al Rajhi Banking & Investment Corporation (Malaysia) BHD and Malaysian Industrial Development Finance BHD (MIDF) after receiving preliminary approvals from the Saudi Arabian Monetary Authority (SAMA) and Bank Negara Malaysia (Malaysian Central Bank). If an agreement is achieved, it will be subject to various conditions, including all relevant regulatory approvals. The merger is not expected to have a material impact on Rajhi’s financial statements. There are no related parties involved in the proposed merger.
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