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BCHB unit in Bahrain deal.
(From Business Times (Malaysia))
BUMIPUTRA-Commerce Holdings Bhd's (BCHB) subsidiary CIMB Group Sdn Bhd (CIMBG) has formed a joint venture with a company in Bahrain to provide Islamic investment banking services there.
The joint-venture company with Yusuf bin Ahmed Kanoo (Holdings) WLL (the Kanoo group) will be named CIMB-KANOO Islamic Investment Co BSC(C).
CIMBG and the Kanoo group will own equal portions in the joint-venture company.
CIMB-KANOO was granted approval by the Bahrain Monetary Agency to set up an Islamic Investment "Company Category 1" in Bahrain on May 10.
CIMB-KANOO has an initial issue and paid-up capital of US$20 …
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