PETALING JAYA: China’s largest lender Industrial and Commercial Bank of China’s (ICBC) intention to expand its footprint in South-East Asia has created excitement among local economists and analysts, who say the move will bolster trade and cross-border transactions in the region.
Many agreed that the presence of major Chinese banks in the local market would not only spice up competition in the banking industry but also enhance the local Islamic banking and capital markets.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
