BANK NEGARA BUYS LAND FOR RM2b TO BUILD HUB

KUALA LUMPUR: Bank Negara Malaysia has acquired a piece of land located next to the Sasana Kijang complex for RM2 billion and plans to develop a financial education hub there.

The 22.59ha plot is also located near the new Asia School of Business complex and the financial industry’s Financial Industry Training Centre currently under construction.

In a statement yesterday, Bank Negara said the combined area would be designated and integrated as a world-class education hub for financial services.

“The land will be utilised for the relocation of the Global Islamic Finance University and the International Syariah Research Academy for Islamic Finance.

“The land will also be used for future development of education and training facilities, which will focus on enhancing the technical capabilities of the talent in the financial industry,” it said.

The hub was envisioned to be a focal point for international learning and research that would nurture a sustainable pool of local talent to support the development of the domestic financial services industry, said Bank Negara.

It said the acquisition cost was about RM2 billion, subjected to a final survey of the area involved, adding that the land valuation was mutually agreed on between the bank and the government based on a valuation process conducted by an appointed independent private sector valuer.