MELBOURNE: Malaysia is open to Australia & New Zealand Banking Group doubling its stake in Malaysian lender AMMB Holdings to 49 percent in a move that could encourage more foreign investment, Malaysia's prime minister said on Friday, March 4.
Datuk Seri Najib Razak told Reuters in an interview that any request by ANZ, Australia's fourth-largest bank, to raise its stake beyond the current 30 percent cap on foreign ownership in local banks would require both central bank and government approval.
"On ANZ, our policy is really to cap the limit on foreign investment in banks to about 49 percent or so, wo within the scope of the policy we can look at what kind of request ANZ bank will make to the central bank," Najib said on a visit to Australia. - Reuters
Datuk Seri Najib Razak told Reuters in an interview that any request by ANZ, Australia's fourth-largest bank, to raise its stake beyond the current 30 percent cap on foreign ownership in local banks would require both central bank and government approval.
"On ANZ, our policy is really to cap the limit on foreign investment in banks to about 49 percent or so, wo within the scope of the policy we can look at what kind of request ANZ bank will make to the central bank," Najib said on a visit to Australia. - Reuters
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