#megabank

Libra or ‘Megabank Monopoly’ may be confronted by ‘Public Competitor’ FedNow

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Libra is in the shadow of the Federal Reserve.

Since Facebook unveiled Libra, the world of digital payments has not been the same. Within a few weeks of the announcement by the social media giant, China publicly stated that it has been working on a digital version of the renminbi [RMB]. Soon, Binance also announced Project Venus, a platform to develop blockchain-based “localized…

Faizsiz Bankaların Merkez Bankası: MegaBank Geliyor!

Türkiye Katılım Bankaları Birliği’nin genel kurulunda konuşan Ali Babacan, İslam Kalkınma Bankasının, Endonezya’nın ve Türkiye’nin dahil olacağı MegaBank‘ı kuracaklarının müjdesini verdi.

Endonezya bu kuruluş için hazırız dediğini söylerken, özel kurumlardan pek çok daha talep edenlerin olduğunu ve bu bağlamda çalışmalarını yoğunlaştırdıklarını açıkladı.

Türkiye olarak 300 milyon dolar sermye…

New Post has been published on http://www.newsfrombanks.com/putrajaya-facing-backlash-over-proposed-mega-bank-merger.html

Putrajaya facing backlash over proposed mega-bank merger

(TMI) – Putrajaya is today facing substantial backlash over the proposed merger of CIMB Bank, RHB Bank plus Malaysian Building Society Bhd (MBSB), with Malaysia’s nationwide banking union, Umno warlords as well as the Abu Dhabi government coating up from the deal which might shape the country’s biggest bank.

The Malaysian Insider knows which Abu Dhabi had transferred a specialized envoy to Putrajaya to convey unhappiness over the merger, suggesting which marketplace forces must determine right cost for RHB shares of that it owns 21.4%.

Sources mentioned the content delivered from Abu Dhabi to Putrajaya is the fact that they usually furthermore reconsider multi-billion ringgit oil storage programme inside the Petronas Rapid project inside Johor when the bank merger goes from without considering the Gulf nation’s interests.

They mentioned Abu Dhabi’s Aabar Investments PJS, that holds the RHB shares, will likely not agree to any deal under RM12 per share, that is the total expense incurred by Aabar whenever it acquired the shares from Abu Dhabi Commercial Bank inside 2011.

The Gulf nation is additionally not happy with all the 90-day exclusivity provided to CIMB Bank to negotiate the deal, that might create mega-bank with assets of RM613.7 billion, dwarfing present top Malaysian lender Maybank Bhd’s RM578 billion.

National Union of Bank Employees (NUBE) president Tan Eng Hong indicated letdown with Bank Negara it wasn’t consulted over the proposed merger, suggesting last week which he feared job losses which occurred inside past mergers.

Politically, Umno warlords have been grumbling regarding needing to consistently fight opposition attacks about nepotism, pointing out which the best executive inside CIMB is Prime Minister Datuk Seri Najib Razak’s youngest brother, Datuk Seri Nazir Razak.

Nazir has been instrumental inside CIMB’s past mergers plus purchase deal for Southern Bank Bhd. The bank lately announced which Nazir is created bank chairman whilst it desired his substitution by September.

But certain Umno warlords are thinking why Nazir was furnished to state asset manager Khazanah Nasional Bhd’ board or was permitted to drive the merger deal, suggesting it wouldn’t look thus bad when Putrajaya had asked state-owned Maybank to conduct the merger with RHB plus MBSB.