Labuan Financial Services Authority gives lender license that enhances the suite of financial solutions in Malaysia.
Nomura, the global investment bank, announced the opening of a bank branch in Labuan, following the approval by the Labuan Financial Services Authority of Nomura Bank International plc’s application for a license to conduct a Labuan banking business. This license will complement Nomura’s existing corporate advisory and securities licenses in Malaysia, enabling the firm to market risk management solutions to Malaysian corporates, government-linked entities and financial institutions.
“The establishment of Nomura’s Labuan bank branch further enhances the suite of financial solutions that we can provide to our clients based in Malaysia, underscoring the firm’s commitment to the Malaysian market and to growing its presence in Asia,” said Philip Lynch, Nomura’s CEO, Asia ex-Japan and Middle East.
Nomura has built a strong footprint in Malaysia since it first established a presence in the country 36 years ago, as reported in a Nomura release.
Nomura has been providing corporate advisory services to Malaysian institutions since 1993. In November 2008, Nomura Asset Management Co., Ltd. established Nomura Islamic Asset Management Sdn. Bhd., a Kuala Lumpur-based Islamic fund management company, in addition to its existing conventional asset management business in Malaysia. Then in July last year the firm launched its cash equities business in the country after the Securities Commission granted Nomura Securities Malaysia Sdn. Bhd. a special scheme stock broking license, becoming one of only six wholly foreign-owned brokers operating in Malaysia. Nomura is also registered as a participating organization with Bursa Malaysia Securities, enabling the firm to trade Malaysian equities for its Malaysian and global clients.
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