China Construction Bank Labuan signs 14 MoUs

LABUAN: China Construction Bank Labuan (CCBL), the first foreign-owned offshore bank granted approval to conduct digital banking activities in the Labuan International Business and Financial Centre (Labuan IBFC), inked 14 memoranda of understanding (MoUs) with various parties at its recent opening ceremony.

The bank, which was granted a licence to operate in Labuan IBFC in June this year, exchanged MoUs with, among others, Labuan IBFC, ZICO Trust Ltd, PricewaterhouseCoopers Malaysia, Public Bank (L) Ltd, Baxian Private and Investment Bank Ltd, European Credit Investment Bank Ltd, Faisal Investment Bank, IBH Investment Bank Limited, Middle East Investment Bank Ltd, PHIL Ltd, Fusang Exchange Ltd, APAC Venture Sdn Bhd, Revenue Monster Sdn Bhd, WETIX Sdn Bhd, ADFINITY Media Sdn Bhd, CITIC Sunsuria Sdn Bhd, Beibu Gulf Holdings (Malaysia) Sdn Bhd and CCB Guangxi Branch.