Maybank Islamic Signs MoU With Bank Syariah Mandiri

Maybank Islamic (MI) has signed a Memorandum of Understanding (MoU) with Bank Syariah Mandiri (BSM), Indonesia, to establish cross border collaboration in all Islamic treasury and trade finance matters.

In a statement here Tuesday, MI 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.

“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,” MI Chief Executive Officer Muzaffar Hisham was quoted as saying in the statement.

He said the signing of the agreements, in Jakarta yesterday, augured well for deeper Asean collaboration between Malaysia and Indonesia

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