EXIM Bank to unveil Islamic products

KUALA LUMPUR: 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 sector and customers, EXIM Bank said in a statement yesterday.

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

The bank said 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, process and procedures, EXIM Bank has re-evaluated and re-aligned its internal process, policies, procedures and guidelines to be in line with the regulatory requirements and good corporate and risk 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 is also embarking on a corporate improvement programme (CIP) to improve its overall delivery system.

“The CIP six-pronged approach covering balance sheet recapitalization 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, would strengthen EXIM bank in carrying on its mandated role as a development financial institution to enhance the competitiveness of export-oriented Malaysia companies.

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