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LENDING & CREDIT | Cesar Tordesillas, Malaysia

Malaysia's EXIM Bank inks reinsurance MoU with UK's ECGD

Malaysia's EXIM Bank aims to establish a basis for the exchange of information, coinsurance, reinsurance and training with ECGD of United Kingdom via an MoU.

The MoU also provides the means for EXIM Bank and Export Credit Guarantee Department of United Kingdom to reinsure each other, when exporters from both countries, are involved in supplying goods and services to the same buyers.

In such a situation, the export credit agency of the exporter, who has the largest share of the relevant contract, will provide export credit support for the whole contract and be reinsured by the export credit agency of their exporters.

EXIM Bank Managing Director and Chief Executive Officer Datuk Adissadikin Ali said the bank was looking forward to implementing the MoU at the earliest opportunity by providing export credit and political risk insurance to investment projects.

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