Non chex systems bank and Rants

EON Capital has decided to accept the revised offer from Hong Leong Bank Berhad. This news was announced in a statement by EON Capital’s board of directors who deemed the revised offer as credible.The board of EON Capital Bhd has voted in favour of the revised offer from Hong Leong Bank Bhd to buy its entire assets and liabilities for RM5.06bil cash and will present the offer to its shareholders at a general meeting.

EON Capital will proceed to present the offer by Hong Leong Bank to their shareholders in a forthcoming general meeting.“EON Cap wishes to announce that after having taken all steps to explore strategic options for the overall direction of the EON Cap, its board of directors is of the view that the offer is credible as a whole and should therefore be presented to EON Cap’s shareholders for their decision,’’ it said in a statement.

A rescue package to save the bank behind the biggest financial loss in Irish history has been approved by European regulators.

The EU commission today gave the green light for an Irish state emergency recapitalisation programme worth more than €10bn (£0.89bn) to the crisis-hit Anglo Irish Bank.

More at Guardian

Malayan Banking Bhd (Maybank)are planning on opening more of it’s branches all over the world.Now maybank aim to open 2,000 branches abroad.Well done for them for a very outstanding performance and service.Maybank overseas loan portfolio would grow to 40% from the current 33% as it sought to be a regional financial powerhouse by 2015.

The group currently has an extensive global network of 1,750 branches and offices in 14 countries with over 39,000 employees.I dont think there will be a problem for Maybank since now they already gaining 16.3 million customer in the region, with 9.5 million customers in Malaysia alone.That’s a very big number.

Malaysia’s AmBank Group chairman Tan Sri Azman Hashim was honoured with the “Lifetime Achievement Award”, at the Fourth Annual Islamic Business and Finance Awards 2009 here, recently.

Also flying the Malaysian flag high was CIMB Islamic Bank which clinched awards in two categories, the Best Islamic Investment Bank and Best Islamic Retail Bank.

Gulf-based institutions and individuals scooped more than two-thirds of the trophies, or 19 awards.

The top prize of Best Islamic Bank went to the United Arab Emirates’ Dubai Islamic Bank for the second time. The bank had won this award in 2007.

Mohammed Sulaiman Al-Omar, chief executive of Kuwait Finance House, was named “Islamic Banker of the Year”.

Besides Malaysia, other winners were drawn from Pakistan, the United Kingdom, the United States, Australia and Luxembourg.

“The astonishing growth of the global Islamic finance industry is mirrored by the increasingly stiff competition for these awards,” said Nigel Rodrigues, chief executive of CPI Financial, publisher of Islamic Business & Finance.

The globally recognised awards were launched in 2005 and in response to the phenomenal growth of the Islamic finance industry, currently estimated at around US$840 billion in value and expected to pass US$1 trillion in 2010.

Held on Monday, the awards ceremony brought together around 300 distinguished regional and global industry professionals from around the world.