CIMB Says RBS to Help Regain Top Arranger Spot: Islamic Finance
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CIMB Group Holdings Bhd. plans to take advantage of its purchase of Royal Bank of Scotland Group Plc’s Asian operations to regain its position as the world’s top sukuk arranger after slipping to second place in 2012.
The Malaysian bank is in talks with companies in India and China to sell ringgit-denominated sukuk as they seek to skirt a lack of Shariah rules in their own nations, Badlisyah Abdul Ghani, chief executive officer of the Kuala Lumpur-based Islamic unit, said in a Dec. 11 interview. The lender managed 13 percent of the record $45 billion in global issuance this year, trailing the 25 percent of nearest rival HSBC Holdings Plc.