The FINANCIAL — Mizuho Corporate Bank, Ltd. 100% owned subsidiary Mizuho Corporate Bank (Malaysia) Berhad opened today in Kuala Lumpur, the capital city of Malaysia.
As a result of the opening of Mizuho Corporate Bank (Malaysia) Berhad, the Mizuho Group is able to provide its customers with a diverse range of financial services, including deposits, loans, foreign exchange, and derivatives transactions, denominated in the Malaysian local currency; the Ringgit. Mizuho Corporate Bank (Malaysia) Berhad will provide wide-ranging support for the needs of customers developing their business in Malaysia and the Association of Southeast Asian Nations (ASEAN) region, in partnership with not only MHCB's Labuan Branch and other nearby offices, which mainly conduct foreign currency denominated transactions, but also all Mizuho Group companies in Japan, including Mizuho Bank, Ltd.
Malaysia is attracting the world's attention as one of the central nations in the high-growth ASEAN region. It has been projected that investment in Malaysia from businesses around the world will increase following announcement of the Economic Transformation Program (ETP) in late October 2010 by Prime Minister of Malaysia. Malaysia is the center of Islamic finance in Asia, and it is also expected to see further rapid expansion going forward as the center (R&D center) of Islamic business, such as Halal business. There is strong potential for expansion of new business opportunities for both Japanese and global businesses.
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