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CIMB Represents Malaysia In Deal With China
 
News From : DagangHalal.com (1/11/2010)

KUALA LUMPUR: CIMB Group, as a representative bank for Malaysia, along with other major Asean financial institutions, have signed a framework agreement with the China Development Bank Corp (CDBC).

Following the agreement, the signatories would formalise the setting up of the China-Asean Interbank Association (CAIBA), CIMB said in a statement.

"CIMB is and has consistently been a strong advocate of regional integration," said the group's corporate and investment banking deputy chief executive officer Datuk Charon Wardini Mokhzani.

"With the establishment of this association, we will build long-term relationships with other member banks as well as look into providing more extensive financial services for cooperation between China and Asean countries."

CAIBA was set up to achieve a mutually-beneficial social and economic development between China and Asean by promoting mutual trade and investment.

It can provide relevant financial services for infrastructure construction and other projects supported by the governments of China and Asean countries.

Initial members of CAIBA consist of renowned financial institutions which have influence in their own countries, as well as in South-East Asia.

Other members include Bank Islam Brunei Darussalam Bhd, Canadia Bank PLC, PT Bank Mandiri (Persero) Tbk, Laos Development Bank, Myanmar Foreign Trade Bank, Banco de Oro Unibank, DBS Bank Ltd, KasikornBank Public Co Ltd and Bank for Investment and Development of Vietnam.

- Bernama

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