KUALA LUMPUR, May 15 — Export-Import Bank of Malaysia Berhad has entered into an MOU with Saudi Export-Import Bank, to develop and enhance the export capacity of small and medium enterprises (SMEs) of both countries.
Both parties recognise the growth potential and investment opportunities between the two nations and are keen to maintain an active dialogue and streamlined communication channel for referrals of projects of mutual interest, capturing Malaysian and Saudi exports. They will also explore training and secondment opportunities in credit, risk underwriting, and documentation, on top of considering joint client outreach programmes to facilitate bilateral trade growth.
Commenting on the occasion, Chief Executive Officer Arshad Ismail “EXIM Bank Malaysia and Saudi EXIM share a relationship that we hope to take to greater heights as we value the opportunity to collaborate and strengthen the cooperation we have with them. I consider Saudi EXIM a particularly important partner and look forward to opening wider market access for our respective clients, as well as maintaining an active dialogue and communication channel for continued business and referral projects.”
Sharing his view on this MoU, H. E. Eng. Saad Al-Khalb said: “The commencement of our latest international partnership with EXIM Bank Malaysia will allow us to strengthen our cooperation efforts for the benefit of Saudi SMEs and enhance our export capacity. Through the exchange of knowledge and expertise, joint training, and outreach initiatives, we look forward to facilitating the development of trade and promoting mutual understanding and coordination between our two nations throughout the coming years.”
The banks hold unique mandates with EXIM Bank Malaysia was established to provide credit financing, export credit takaful, guarantee services, and facilities to support exports and imports of goods, services and overseas projects and investments with emphasis on non-traditional markets. While Saudi EXIM’s main objective is to promote the development and diversification of Saudi exports and increase their ability to compete in global markets in various sectors. Both banks are wholly owned by their respective Governments. —businesstoday.com.my
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