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Maybank launches Islamic trade foreign currency products

01 March 2008

Read more: Islamic trade finance currency product Malaysia

Maybank's Islamic subsidiary Maybank Islamic has launched two new Islamic currency products geared towards trade finance.

The Malaysian bank has launched the country's first Islamic onshore foreign currency financing (OFCF-i) as well as its Islamic foreign currency account (FCA-i) aimed at export proceeds and receivables.

Maybank Islamic began operations this year 1 January 08. "The potential for growth in Islamic trade financing is indeed tremendous. Our target is for a 10-15% increase...

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