BUSINESS

APIB LAUNCHES FINANCIAL SERVICES PROGRAMME FOR LOCAL BUSINESSES

23/10/2020 04:05 PM

KUALA LUMPUR, Oct 23 -- Asia Pacific Investment Bank (APIB) has introduced a comprehensive financial services programme to empower local businesses in overcoming current challenges brought about by the COVID-19 pandemic.

Chief executive officer Chris Wang said the three-in-one programme executed by the APIB-Labuan offshore financial centre combines the elements of traditional financing, Islamic financing and digital financing.

“The key thing that local financial institutions like us should focus on is to help Malaysian businesses address financial challenges they are facing, especially the challenge of accessing cross-border trade financing services at an affordable cost,” he said in a statement today.

He said the six key financial services provided under the programme are investment banking, asset management, international trade financing, global trade services, Islamic financing, and digital financing.

Fifteen sub-services are offered under the six main pillars of the programme.

Meanwhile, Wang said Malaysia together with other ASEAN countries’ economies have been gradually improving in recent months. 

ASEAN, he said, has surpassed the European Union to become China’s largest trading partner.  

“We believe our programme will help propel Malaysia to become the export leader in ASEAN,” he said, adding that trading activities in Malaysia and ASEAN during the later stage of the ongoing pandemic have been steadily increasing.

Wang said the programme is also aimed to fulfil the demand of regional and global businesses for comprehensive offshore financial services while helping the Labuan International Business and Financial Centre (IBFC), a special economic zone of the Malaysian government, to become a key global financial hub.  

-- BERNAMA

 

 


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