CIMB SETS UP NERVE CENTRE IN MENA REGION

From Premalatha Jayaraman

MANAMA (BAHRAIN), Oct 15 (Bernama) -- CIMB Islamic Investment House BSC is
now known as CIMB Middle East BSC and will act as CIMB Group's nerve centre in
the Middle East and North Africa (MENA) region.

The rebranded entity was launched by the Crown Prince of Malaysia's Perak
state Raja Dr Nazrin Shah who is Malaysia International Islamic Financial Centre
(MIFC) financial ambassador and Bahrain Central Bank Governor Rasheed Mohammed
Al Maraj in conjunction with the MIFC road show here.

CIMB Group's head of corporate client solutions for the MENA Region and
a CIMB Middle East board member, Badlisyah Abdul Ghani, said the rebranding
exercise was the second phase of the firm's business transformation and growth
agenda in the Middle East.

Established in 2006 and licensed in Manama, CIMB Islamic Investment House
was CIMB Group's first foray into the Middle East and a joint venture with Yusuf
Bin Ahmed Kanoo Holdings WLL, a reputable and well-established blue chip entity.

CIMB Middle East, with an initial issued and paid-up capital of US$20
million, provides advisory and arranging services as well as solutions to
corporate and institutional clients in the Gulf Cooperation Council and Middle
East region.

Badlisyah said CIMB Middle East was in the process of applying for an
advisory and arranging licence from the Saudi government and would set up an
office in Saudi Arabia to support its initiatives and activities there.

Badlisyah who is also CIMB Group head of Islamic Banking, also announced
the appointment of Suryono Darnor as CIMB Middle East chief executive officer
and board member.

Suryono has over 18 years experience in bridging businesses in the Middle
Eastern and South East Asian financial markets.
-- BERNAMA