EXIM BANK MALAYSIA, SAUDI EXIM INK MOU TO DEVELOP, ENHANCE SMES’ EXPORT CAPACITY

KUALA LUMPUR, May 16 (Bernama) -- Export-Import Bank of Malaysia Bhd (EXIM Bank Malaysia) has entered into a memorandum of understanding (MoU) with Saudi Export-Import Bank (Saudi EXIM) to develop and enhance the export capacity of small and medium-sized enterprises (SMEs) of both countries.

The MoU also aims to foster mutual understanding and close coordination through an exchange of information, experiences and business connections.

In a statement dated May 13, EXIM Bank Malaysia said both banks recognised the growth potential and investment opportunities between Malaysia and Saudi Arabia, and are keen to maintain an active dialogue and streamlined communication channel for project referrals of mutual interest.

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, it said.

The MoU was signed by EXIM Bank Malaysia president and chief executive officer Arshad Ismail and Saudi EXIM CEO Saad Al-Khalb. Deputy Finance Minister I Datuk Seri Ahmad Maslan and EXIM Bank Malaysia chairman Datuk Azman Mahmud witnessed the event.

Arshad said EXIM Bank Malaysia and Saudi EXIM share a relationship that the bank hope to take to greater heights as it values the opportunity to collaborate and strengthen the cooperation with the latter.

“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,” Arshad said.

Sharing his view on the MoU, Saad Al-Khalb said this partnership will allow it to strengthen its cooperation efforts for the benefit of Saudi SMEs and enhance its 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,” he said.

Both EXIM Bank Malaysia and Saudi EXIM are wholly owned by their respective governments with unique mandates.

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.

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.

-- BERNAMA