Malaysia's Exim Bank expands into India

Source From (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/6/8/business/11437043&sec=business

Published: Friday June 8, 2012

MUMBAI: Export-Import Bank of Malaysia Bhd (Exim Bank) has signed a collaborative deal with Indian banks namely, ICICI Bank Ltd and YES Bank, to further enhance Malaysia-India trade, especially for palm oil.
Through this collaboration, Exim Bank will provide credit lines to ICICI Bank, which is India's largest private sector bank and YES Bank, to facilitate the imports of goods from Malaysia.

“It is hoped with this enabling financing infrastructure, Exim Bank can partake in increasing the movement of goods and services between the two countries,” Exim Bank managing director and chief executive officer, Datuk Adissadikin Ali said in a statement here yesterday.

Although, the facility is open to all manufactured goods and commodities from Malaysia, it is envisaged that palm oil will be among the leading sector that will benefit from the scheme in view of the importance of Indian market to Malaysia's palm oil.

Through this financing scheme, Exim Bank seeks to improve the competitiveness of Malaysia's products internationally.
Subsequent to the deal in India, Exim Bank is expected to replicate the scheme in other economies as well. - Bernama