Latest News:  
Beijing   Cloudy/Overcast    29 / 21   City Forecast

Home>>World >> Asia/Oceania

Japan's Mizuho unveils plans to make Malaysia global hub for Islamic finance


09:03, September 06, 2011

KUALA LUMPUR, Sept. 5 (Xinhua) -- Japan's third largest bank, Mizuho Corporate Bank Ltd (MHCB) announced plans to make Malaysia its global hub for Islamic finance on Monday.

"We regard Malaysia as a critical part of our Asia-focused strategy because it is a strategic hub and gateway to business development in the Asean with its strong infrastructure in Islamic

finance," Chairman of Mizuho Malaysia, Keizo Ohashi said.

"Many Japanese companies have been urging us to set up operations there," he added.

The bank said it had applied for Islamic banking permit from the central bank.

The bank began commercial banking in Malaysia on Monday after receiving a nod from the central bank last June.

Ohashi said its commercial banking license allows the bank to extend full range of financial services to multinational companies seeking to expand their businesses in the country.

He said more than half of the 1,400 Japanese companies operating in Malaysia were Mizuho's clients.

To boost its local banking industry, Malaysia has been issuing banking licenses to at least nine overseas banks, including China' s Industrial and Commercial Bank of China Ltd as the government forecast a six percent economic growth this year.


Leave your comment0 comments

  1. Name


Selections for you

  1. Powerful typhoon leaves 15 dead, 43 missing in western Japan: Kyodo

  2. Documents indicate U.S., British spy agencies help Gaddafi in persecution

  3. Proud Bolt fires Jamaican team to world record

  4. Self-made moon cakes popular in NE China

Most Popular

What's happening in China

Rich are dying to make it big

  1. Death in Hubei sparks debate on ethics
  2. New plan to hear public opinions
  3. Public fury feverish over Bohai oil leakage
  4. Charity accused over land deal, loans
  5. Survey reveals more confidence in milk products

PD Online Data

  1. Aites of the Kazak
  2. Dongba Art of Naxi
  3. Fish-skin Clothes of Hezhe
  4. The Mongolian-style Lele Cart
  5. Ballad of Liu Sanjie