Malaysia

Maybank President and CEO Datuk Seri Abdul Wahid Omar says that the Malaysian banking sector will not be affected by the on-going financial and debt crisis in the United States and Europe.

With a minimum investment of $336, the fund gives investors opportunities to benefit from Taiwan’s economic growth.

Maybank is confident of increasing its market share in the electronic dividend payment from 30% to 70% by 2013, with an expected transaction value of about RM10 billion.

Customers of the former EON Bank will be able to conduct transactions at all of its 145 branches redesignated as Hong Leong Bank  branches beginning today.

Standard Chartered Bank Malaysia is now offering a business debit card for SMEs in Malaysia. Through the launch of the SME Business Debit Card, the bank aims to issue a total of 12,500 cards by 2012 to deepen penetration rate and increase debit card spend in the country. "As the sector continues to grow, SMEs require sophisticated range of solutions to meet their changing needs," said Standard Chartered General Manager of SME Banking Vishal Shah. "The SME Business Debit Card is a value added solution that we are extending to our customers and further strengthening our value proposition." The SME Business Debit Card is available to all Standard Chartered's SME customers with current accounts with the Bank. Each account is entitled to apply up to 10 cards. The full story is available at Bernama.

The issue to be used to boost the lender’s working capital is part of a $1.66bn programme.

HSBC Amanah Malaysia Bhd tapped Islamic Development Bank's International Islamic Trade Finance Corporation's expertise to implement its Shariah-compliant trade financing.

Concern on Indonesia central bank’s latest policy prompted the Malaysian lender to halt the bid.

In collaboration with Malaysian travel agent, a new service is eyed to provide boost in its BdC operations.

Figure enough to fund 9.6 months of retained imports and was 4.5 times the short-term external debt.

Maybank is aiming for least a RM2.5 billion deposit growth from the new Save & Win Campaign and online savings account called M2U Savers, to strengthen its market leadership in the traditional deposit segment.

CIMB Bank expects a 40-45 % growth in turnover from its currency exchange business this year after a tie-up with the Malaysian Association of Tour and Travel Agents.

Bank Islam opened another Ar-Rahnu Islamic pawn broking branch in Pasir Mas, Kelantan.

Non-interest income business for the country's eight anchor banks seen to be about $5.91bn this year .

RHB said a potential merger with Maybank or other lenders could be considered if valuations are right.

CIMB Niaga plans to roll out a new Syariah product, Commodity Murabahah deposit, possibly by end of this year.