Export-Import Bank of Malaysia Berhad (Exim Bank) is expected to grow by 30% year-on-year asset growth in the year 2014 as per the President and Chief Executive Officer (CEO) Datuk Adissakidin Ali. He also claimed that this growth is realistic based on past year performances. Although, the loan disbursements for the year 2013 is lower that targets but asset growth is achievable.
EXIM Bank was incorporated on 29 August 1995 as a government owned development financial institution through a wholly owned subsidiary of the Minister of Finance Incorporated. The Bank was established to promote reverse investment and export of strategic sectors such as capital goods, infrastructure projects, shipping, value added manufactured products and to facilitate the entry of Malaysian companies to new markets, particularly to the non-traditional markets.
As an agency under the purview of the Ministry of Finance, EXIM Bank’s mandated role as specified by the Government is to provide credit facilities to finance and support exports and imports of goods, services and overseas projects with emphasis on non-traditional markets as well as the provision of export credit insurance services, export financing insurance, overseas investments insurance and guarantee facilities.
The Bank’s clientele consists of large corporations, SMEs, foreign governments and foreign companies and cover all sectors ranging from trading, manufacturing and infrastructure.
EXIM Bank continues to pursue alliances with international associations and multilateral organizations and have also executed several agreements to further boost its business and market outlook. As at to date, EXIM Bank is a member of the Berne Union, an international organisation for Export Credit Agencies; a member of Asian EXIM Banks Forum, an association of 9 EXIM Banks in Asia; The Aman Union and Association of Development Financing Institutions in Asia and the Pacific. EXIM Bank in its export promotion effort also collaborates with Malaysian government agencies including Ministry of International Trade and Industry (MITI), Malaysia External Trade Development Corporation (MATRADE), Malaysian Investment Development Authority (MIDA), Small And Medium Enterprise Corporation Malaysia
As a conclusion, EXIM Bank is a good platform for exporters and importers in Malaysia to explore as it provides financial facilitations and has good relations with all associated agencies within the country as well as good relations internationally. Well, it is crucial that any international business relies greatly on the secure networking and dependable partners.
Source :
Exim Bank confident of 30% asset growth | theSundailyhttp://www.exim.com.my
Thank you.
Best regards,
Mahinder Singh Malhi
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