KUALA LUMPUR: Affin Group and Brunei's Baiduri Bank have inked a memorandum of understanding (MoU) to expand their cooperation in both markets.
Baiduri Bank is Brunei's largest conventional bank and a member of Baiduri Bank Group, one of the country's largest financial service providers.
In a joint statement, the parties said the partnership combines Affin’s banking capabilities and network in Malaysia with Baiduri Bank’s strong domestic franchise and market expertise in Brunei, establishing a more direct financial corridor for businesses pursuing trade, investment and expansion across the two countries.
The collaboration will include commercial and retail banking, financing, trade finance and treasury, as well as investment services including investment banking, stockbroking, asset management and unit trusts. It will also broaden opportunities to facilitate transaction flows, generate new business and expand access to financial solutions for customers in Malaysia and Brunei.
"This MoU creates a platform to expand cross-border connectivity and connect customers to new opportunities. With economic linkages between Malaysia and Brunei Darussalam continuing to grow, including across Borneo, and Visit Brunei Year 2027 on the horizon, we see ample scope to deepen commercial activity and create sustainable value for both institutions," said Affin Group president and group CEO Datuk Wan Razly Abdullah.
Baiduri Bank CEO Ti Eng Hui added that as opportunities across Malaysia, especially Borneo, continue to expand, Affin Group and Baiduri Bank are well placed to strengthen
those connections and create greater opportunities for businesses and customers in both markets.
