EXIM Bank To Roll Out Islamic Financial Services Products

KUALA LUMPUR, July 4 (Bernama) -- Export- Import Bank of Malaysia Bhd (EXIM Bank) is expected to roll out its Islamic financial services products early next year.

The new products will be introduced to better meet the demand of targeted sectors and customers, EXIM Bank said in a statement Friday.

"Islamic banking and takaful services have been identified as areas of potential growth," it said.

The bank said that it would also invest in information technology (IT) infrastructure to complement ongoing improvement initiatives with a view to increase efficiency.

"To improve the delivery system, processes and procedures, EXIM Bank has reevaluated and realigned its internal processes, policies, procedures and guidelines to be in line with the regulatory requirements and good corporate and risk management governance framework," it said.

The combination of all these areas of improvement is expected to improve the overall delivery system for the bank to better meet the demands of its customers and stakeholders.

EXIM Bank said it was also embarking on a corporate improvement programme (CIP) to improve its overall delivery system.

"The CIP is a six-pronged approach covering balance sheet recapitalisation and restructuring, business strategy improvements, human capital development, process improvement, procedure and governance framework enhancement and operational enablers augmentation," it said.

These initiatives, it added, will strengthen EXIM Bank in carrying on its mandated role as a development financial institution to enhance the competitiveness of export-oriented Malaysian companies.

-- BERNAMA

Back to News