Maybank launches Islamic trade foreign currency products

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05 February 2008

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%...

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