Kuala lumpur: RHB Bank Bhd announced that its subsidiary, RHB Investment Bank Bhd, has obtained clearance from Bank Negara Malaysia to initiate discussions with Tokio Marine Asia Pte Ltd regarding the potential sale of up to a 100 per cent stake in RHB Insurance Bhd. According to BERNAMA News Agency, the company disclosed in a filing to Bursa Malaysia Bhd that the central bank's approval permits both parties to explore the integration of RHB Insurance Bhd with Tokio Marine Insurans (Malaysia) Bhd. This merger would create an expanded insurance entity, wherein RHB Bank would maintain up to a 35 per cent stake. The approval from BNM is contingent upon the completion of negotiations within a six-month timeframe from the date of the letter issued by the central bank. As stipulated under the Financial Services Act 2013, the parties involved must also secure prior consent from the Minister of Finance, based on BNM's recommendation, before they can finalize any formal agreements. RHB Bank confirmed that an additi onal announcement would follow upon the execution of these definitive agreements.