Further to Alliance Bank Malaysia Berhad's announcements dated 2 December 2021, 7 December 2021, 31 March 2022 and 1 July 2022 on Bursa Malaysia in relation to the Disposal of Stockbroking Business and Capital Markets Business Transfer by AIBB, the Bank announced that AIBB has surrendered its investment banking licence to Bank Negara Malaysia pursuant to Section 22(1) of the Financial Services Act 2013 effective 13 December 2023.
The Bank had completed the transfer of AIBB's capital markets business to the Bank's other subsidiary, Alliance Islamic Bank Berhad (“AIS”) in 2022. The move made AIS one of the few local Islamic banks with in-house capabilities to serve business clients with comprehensive corporate and capital markets solutions.