Exim Bank to be under one roof, says Darell
KUALA LUMPUR: Export-Import Bank of Malaysia Bhd (Exim Bank) will soon be placed under the International Trade and Industry Ministry along with SME Bank Malaysia.
International Trade and Industry Minister Darell Leiking said Exim Bank will be able to complement other agencies such as Malaysia External Trade Development Corp and Malaysia Investment Development Authority (Mida) in providing funding and credit support for cross-border business ventures.
“This is consistent with the ministry’s efforts to make Malaysia a globally competitive trading nation and promote Malaysia’s enterprises to the world,” he said after holding dialogue sessions with chambers of commerce and trade associations, here, yesterday.
Exim Bank is a development bank under the purview of the Finance Ministry while SME Bank is already under the ministry.
Also present were his deputy Dr Ong Kian Ming, ministry’s deputy secretary-general (Trade) Datuk Norazman Ayob, and deputy secretary-general (Industry) Datin K. Talagavathi.
Ong said all development financial institutions would still report to Finance Ministry, but when it comes to policy-making, SME Bank and Exim Bank will now be under the ministry’s purview.
Besides Exim Bank, Darrell said Invest KL Corp Sdn Bhd would also be reporting to the ministry.
Asked on the United States and China trade tensions, Darrell said his ministry had formed a task force to collate feedback from investors, importers and exporters, here.