BUSINESS

EXIM BANK INKS MOU WITH LOCAL, THAI DFIS TO PROMOTE SME GROWTH

18/02/2020 05:50 PM

KUALA LUMPUR, Feb 18 -- The Export-Import Bank of Malaysia Bhd (EXIM Bank) has recently signed a Memorandum of Understanding (MoU) with Thailand and Malaysian development financial institutions (DFIs) to promote the economic growth of small and medium-sized enterprises (SMEs).

The MoU was inked between EXIM Bank, Small Medium Enterprise Development Bank Malaysia Bhd, Export-Import Bank of Thailand, and the Small and Medium Enterprise Development Bank of Thailand. 

In a statement today, EXIM Bank said that the MoU would form the foundation for collaborations for the mutual benefit and promotion of Thai and Malaysian SMEs, while enhancing the economic growth of the SMEs.

"The MoU reaffirms the commitment by all participating institutions, particularly in their effort to integrate collaborations on trade, investment and SMEs of both countries, including those involved in cross-border trade," it said in a statement today.

EXIM Bank president and chief executive officer Datuk Shahrul Nazri Abdul Rahim said in line with the Prime Minister Tun Dr Mahathir Mohamad's call for "Shared Prosperity", the bank believed that the agreement would pave the way for greater collaborations between the DFIs of the two countries.

"EXIM Bank aims to be the preferred financier for these aspiring global businesses by facilitating and offering them avenues for growth with our various trade financing, credit insurance and advisory services," he added.

-- BERNAMA


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