KUALA LUMPUR (Sept 20): Mizuho Bank Malaysia Bhd launched its Islamic Banking Window (IBW) on Friday, which enables provision of Islamic finance products in ringgit.

The IBW operations is in line with the Malaysian government’s efforts “to make Malaysia a leader in Islamic finance”, Mizuho Bank Malaysia said in a statement. 

The feature adds to Mizuho Bank Malaysia’s 11-year track record in providing Islamic finance services here, which started with the launch of its international currency business unit in 2013 — two years after the Malaysian unit officially commenced operations. 

The bank has since built a sizeable portfolio of foreign currency assets, it said. The Japanese bank’s Malaysian operations in Kuala Lumpur has RM18.5 billion in assets at end-2023, according to its interim financial statements.

“Mizuho Bank Malaysia is committed to serving local corporates to widen funding options and support corporates involved in the ecosystem of the halal industry in Malaysia.

“With the launch of its IBW operations, Mizuho Bank Malaysia looks forward to providing better and more impactful support towards the economic and social development of the country,” the statement said.

Mizuho Bank Malaysia also provides financial services in corporate finance, trade finance, forex & derivatives, cash management, and advisory to multinationals and corporate clients.