Maybank Islamic yesterday said it had signed a memorandum of understanding with Indonesia's Bank Syariah Mandiri to establish cross-border collaboration in all Islamic treasury and trade finance matters.
Maybank Islamic said the collaboration would set the terms of cooperation between the two institutions in relation to enhancing cross-border liquidity flows and, as well as, increasing and diversifying the application of Islamic financial solutions. (source)
Maybank Islamic hopes to seal a similar deal with banks in Brunei, the Middle East, Hong Kong and China.
"There are huge synergies to be gained from the cooperation in the areas of banking transaction structured, offered and undertaken in compliance with Islamic Syariah principles," Maybank Islamic Chief Executive Officer Muzaffar Hisham said in a statement.
Source : http://www.bt.com.bn/business-national/2011/07/20/maybank-islamic-eyes-ties-brunei-banks - July 20, 2011
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