Unicorn Investment Bank of Bahrain has received an Islamic banking licence from the Finance Minstry to establish a wholly-owned subsidiary, Unicorn International Islamic Bank Malaysia Bhd, under the Malaysian International Islamic Financial Centre (MIFC) initiative.
In a statement on Dec 31, Unicorn said it had appointed Datuk Vaseehar Hassan Abdul Razack, — who is a banker with extensive experience in investment banking, commercial and Islamic banking — as the chairman of the Malaysian entity with effect from Jan 1, 2008.
Vaseehar has relinquished his position as the chairman of RHB Islamic Bank Bhd, RHB Bank Bhd and RHB Capital Bhd on Dec 31, 2007, to assume the new psoition.