MIDF, Al Rajhi secure Bank Negara Malaysia approval to initiate merger talks

Saudi Arabia
Skyscrapers stand in the King Abdullah financial district in Riyadh, Saudi Arabia, on Sunday, Jan. 10, 2016. Photographer: Waseem Obaidi/Bloomberg

The central bank of Malaysia (Bank Negara Malaysia) has shown the green light to Malaysian Industrial Development Finance Bhd (MIDF) to proceed with its merger negotiations with Saudi’s Al Rajhi Banking & Investment Corp’s local arm in Malaysia, MIDF said in an announcement on Thursday.

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