(14 June 2012 – Asia) A recent deal has been made between a Malaysian bank and two Indian banks which should boost the country’s bilateral trade.The Export-Import Bank of Malaysia Bhd (Exim Bank) has signed a deal with the Indian banks, ICICI Bank Ltd and YES Bank, to further enhance Malaysia-India trade, especially in palm oil.
Exim Bank will provide credit lines to ICICI Bank, India’s largest private sector bank and YES Bank, to facilitate the imports of goods from Malaysia. The facility is open to all manufactured goods and commodities from Malaysia.
Exim Bank managing director and CEO Datuk Adissadikin Ali hopes that with this enabling financing infrastructure, Exim Bank can partake in increasing the movement of goods and services between the two countries.