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founder of arab malaysian banking group shot

By International Adviser, 30 Jul 13

The founder of a major Kuala Lumpur-based bank was shot dead in the parking lot of a temple in that city on Monday, and his wife was injured, in what is being seen as a probable contract killing.

The founder of a major Kuala Lumpur-based bank was shot dead in the parking lot of a temple in that city on Monday, and his wife was injured, in what is being seen as a probable contract killing.

Hussain Ahmad Najadi, 75, had founded Arab-Malaysian Development  Holdings Bhd in 1975, and in so doing is known for having pioneered business links between Malaysia and the Middle East. The lender, which Najadi was no longer involved with at the time of his death and which is now known as AMMB, had been launched with investors from both regions. According to its website, it was the fifth largest bank in Malaysia in 2010.

Najadi originally had been from Bahrain, while his wife, Cheong Mei Kuen, is Malaysian, according to press reports. She was injured in the left wrist and right thigh.

The reports quote police officials as saying the Najadi and his wife had gone to meet someone at the temple about a business deal.

Kuala Lumpur police are said to be looking for three individuals in connection with the murder, using CCTV footage. The gunman and two accomplices were reported to have escaped in a taxi.

Tags: Malaysia

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.