EXIM Bank set to aid clients affected by Covid-19

EXIM Bank president/chief executive officer Datuk Nazri Abdul Rahim said the widespread implications of the CO-19 outbreak are rapidly unravelling and many exporters and importers are faced with disruptions to their businesses. — Reuters pic
EXIM Bank president/chief executive officer Datuk Nazri Abdul Rahim said the widespread implications of the CO-19 outbreak are rapidly unravelling and many exporters and importers are faced with disruptions to their businesses. — Reuters pic

KUALA LUMPUR, Feb 14 -— Export-Import Bank of Malaysia Bhd (EXIM Bank) says it is poised to help clients whose businesses are affected by the 2019 novel coronavirus (Covid-19) outbreak by exploring ways to ease the financial obligations they may have with the bank.

President/chief executive officer Datuk Nazri Abdul Rahim in a statement said the bank is open to discussion and all affected clients can approach their relationship managers to assist on a case-by-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,” he said.

He said this outbreak puts much strain on export-import trade activities that inevitably affect EXIM Bank’s clients.

“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,” he said.

Nazri 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 to workers quarantined to travel restrictions; all these pose financial challenges to businesses, some of whom are our clients,” he added. — Bernama

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