Exim Bank Targets RM1 Million

Source From (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=651636

KUALA LUMPUR, March 23 (Bernama) -- Export-Import Bank of Malaysia Bhd (Exim Bank) targets to secure RM1 million in premium this year from its two newly launched credit takaful products, said managing director/CEO Datuk Adissadikin Ali.

"The demand for trade credit insurance among Malaysian exporters, including SMEs (small and medium enterprises) to protect from non-payment by overseas buyers has risen tremendously," he told reporters after the launch of the two takaful products by Deputy Finance Minister Datuk Dr Awang Adek Hussin here Friday.

The two products, Comprehensive Takaful Shipment and Specific Takaful, the first of its kind in Malaysia to help exporters, particularly the SMEs to hedge their risks in international trade.

Through these products, Malaysian exporters are shield from the risk of non-payment by overseas buyers, amid the bleak global economic scenario sparked by the eurozone sovereign debt crisis and weak economy in the United States.

The Comprehensive Takaful Shipment provides protection to Malaysian exporters and assures their future payments for export of goods or services, either from the overseas buyers or from Exim Bank by way of Takaful claims.

-- BENAMA