Kuala Lumpur, 14 February 2020 – Export-Import Bank of Malaysia Berhad (“EXIM Bank”) joins an array of caring banks offering assistance to clients who have been financially impacted by the 2019 novel coronavirus (2019-nCoV or COVID-19) outbreak.
As the Development Financial Institution (DFI) of the country mandated to promote cross-border trade, this outbreak puts much strain on export-import trade activities that inevitably affects EXIM Bank’s clients.
EXIM Bank President/Chief Executive Officer Dato’ Nazri Abdul Rahim said: “As the world’s second largest economy and one of Malaysia’s largest trading partners, China is a key facet in the global value chain and this outbreak in one of its major cities inexorably affects the economic, trade and manufacturing activities the world over. The widespread implications of the COVID-19 outbreak are rapidly unravelling and many exporters and importers are faced with disruptions to their businesses – from ships being trapped at ports, workers quarantined to travel restrictions; all these do pose financial challenges to businesses, some of whom are our clients.”
In light of this, EXIM Bank is set to aid clients whose businesses are affected by the COVID-19 outbreak by exploring ways to ease the financial obligations they may have with the Bank. EXIM Bank is open to discussion and all affected clients can approach their relationship managers to assist on a case-to-case basis.
“As the preferred trade financier of global businesses, EXIM Bank will assist our affected clients go through this difficult period by dispelling their fears as they continue to monitor and build their businesses,” concluded Dato’ Nazri.
With clients from various sectors and industries, EXIM Bank offers trade financing, credit insurance and advisory services to many cross-border businesses in the country.