KUALA LUMPUR: Malaysia's proposed $20 billon bank merger to create the world's biggest Islamic bank will be scrapped, according to two people with knowledge of the matter.
The merger of CIMB Holdings, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) was expected to create a banking group with assets of about $190 billion.
An announcement on the cancellation could come as early as Wednesday evening after CIMB's board of directors meets to discuss the motion, two people said, declining to be identified as the matter was private.
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