Bank Negara Malaysia (BNM) has acquired 22.58 hectares of land from the government, for RM2 billion, to be utilised for the relocation of the Global Islamic Finance University and the International Shari’ah Research Academy for Islamic Finance.

The land will also be used for future development of education and training facilities that will focus on enhancing the technical capabilities of the talents in the financial industry.

“The land is located contiguous to the bank’s Sasana Kijang complex, which is equipped with conference and state of the art training facilities and houses international organisations such as the World Bank, South East Asian Central Banks Research and Training Centre and the Alliance for Financial Inclusion.

“It is also near the new Asia School of Business (a collaboration with the Massachusetts Institute of Technology) complex and the financial industry’s Financial Industry Training Centre presently under construction,” it said in a statement.

The completion of this transaction is the culmination of several months of discussions between the two parties.

- Bernama