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Maybank launches Islamic trade foreign currency products

05 February 2008

Read more: Maybank Shariah-compliant Islamic Trade finance

Maybank, recent 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 on-shore 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%...