Thursday July 5, 2012
Abu Dhabi bank sets up unit in M’sia
NBAD said South-East Asia was one of the world’s fastest-growing regions with a strong commercial link to the United Arab Emirates (UAE) and the six-nation Gulf Cooperation Council (GCC).
“Malaysia represents a strategic importance as a regional hub.
“The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region,” said its senior general manager (international banking division), Qamber Ali Al Mulla, in a statement.
The UAE was Malaysia’s biggest trading partner in the GCC last year with RM21.06bil trade flows while bilateral trade with the GCC stood at RM 43.76bil.
The bank’s chief executive officer in Malaysia, Leong See Meng, said the Malaysian unit was strategically positioned to bridge Arab business interest with Malaysia and promote bilateral trade and investments.
This was because it had a firm foothold in the UAE, complemented by a strong presence in the GCC, Middle East and North Africa region, he said.
National Bank of Abu Dhabi Malaysia is a licensed conventional commercial bank. — Bernama