MBSB Bank Berhad
("MBSB Bank”) today signed a Memorandum of Understanding (MoU) with the
Northern Corridor Economic Region (NCER), underscoring a strategic
collaboration to accelerate economic growth across the Northern Corridor
through a RM1 billion financing initiative and comprehensive Islamic financial
solutions.
The collaboration
reinforces MBSB Bank's commitment to supporting businesses, investors and
strategic development projects across the Northern Corridor Economic Region by
improving access to financing and value-added banking solutions.
Encompassing Perlis,
Kedah, Pulau Pinang and Perak, the NCER has established itself as one of
Malaysia's fastest-growing economic regions, attracting substantial domestic
and foreign investments in electrical and electronics (E&E), advanced
manufacturing, logistics, agribusiness, the digital economy and other
high-value industries. Supported by robust infrastructure, industrial parks and
government-led initiatives, the region presents significant opportunities for
businesses across the economic value chain.
Recognising the
region's strong growth trajectory, MBSB Bank is strengthening its role as a
strategic financial partner by delivering financing solutions that enable
businesses to expand, innovate and contribute to Malaysia's long-term economic
development. Complementing this commitment, the Northern Corridor
Implementation Authority (NCIA) continues to drive the development of NCER's
flagship thematic industrial parks, including Chuping Valley Industrial Area
(CVIA) in Perlis, Kedah Rubber City (KRC) and Kedah Science & Technology
Park (KSTP) in Kedah. These specialised industrial ecosystems are designed to
attract high-value industries, strengthen regional supply chains, stimulate
investments and create quality employment opportunities, while providing a
strong pipeline of projects that can benefit from strategic financing
partnerships.
Under the MoU, MBSB
Bank will work towards becoming one of the NCER's strategic financial partner
by offering a comprehensive suite of Islamic banking solutions, including
project and business financing, operating and escrow accounts, cash management,
finance, payroll solutions, treasury services, digital banking capabilities and
other commercial banking offerings.
The synergy provides a structured platform for both organisations to identify and pursue strategic opportunities, strengthen stakeholder engagement and enhance governance, while supporting the Government's agenda of accelerating investments and sustainable economic growth in the Northern Corridor.
Rafe Haneef, Group
Chief Executive Officer of MBSB Berhad, said "The Northern Corridor
continues to attract high-value investments and offers tremendous opportunities
for businesses across the railway, automotive, E&E, aerospace and
manufacturing industries to grow. Through this RM1 billion financing initiative
and our collaboration with NCER, we are committed to empowering businesses with
the financing and banking solutions they need to expand confidently and
contribute to the region's long-term economic development."
Dato' Mohamad Haris
Kader Sultan, Chief Executive of NCIA, said this strategic partnership will
strengthen the ecosystem supporting NCER's strategic growth sectors, including
Electrical & Electronics (E&E), advanced manufacturing, agri-food,
logistics, digital economy and green technology. More importantly, it provides
greater opportunities for SMEs, local entrepreneurs and supply chain partners
to access financing that enables them to expand capacity, adopt technology,
improve productivity and integrate into the value chains of multinational
corporations operating within NCER's region.
The cooperation
underscores MBSB Bank's commitment to supporting Malaysia's regional economic
agenda by enabling greater access to financing, strengthening business
resilience and facilitating sustainable investments across the Northern
Corridor. By combining MBSB Bank's banking capabilities with strategic
partnerships, the initiative aims to create long-term value for businesses,
communities and the broader economy.
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