Southeast Asia banks collaborate on Islamic TF

Malaysia’s Maybank Islamic (MI) has signed a memorandum of understanding with Indonesia’s Bank Syariah Mandiri (BSM) to establish cross-border collaboration on Islamic treasury and trade finance matters.

The collaboration between the two banks will enhance the cross-border liquidity flows and increase the application of Islamic financial solutions, MI says.

“We see the collaboration with BSM alongside our existing Maybank Group entities − Bank Internasional Indonesia and Maybank Syariah Indonesia − as a conduit to spearhead efforts to further develop the Islamic banking industry in Indonesia,” comments MI chief executive officer Muzaffaar Hisham.