MBSB Bank Bhd and the Northern Corridor Economic Region (NCER) have joined forces to drive growth across northern Malaysia through a RM1 billion financing initiative and a suite of Islamic banking solutions.
The collaboration, formalised through a memorandum of understanding (MoU), aims to improve access to financing for businesses, investors and strategic development projects in Perlis, Kedah, Penang and Perak.
Under the MoU, MBSB Bank will provide project and business financing, trade finance, cash management, treasury services, payroll solutions, digital banking facilities and other commercial banking offerings.
The partnership will support high-growth sectors including electrical and electronics (E&E), advanced manufacturing, logistics, agribusiness, the digital economy and green technology.
It will also help finance projects linked to NCER’s flagship industrial parks, including the Chuping Valley Industrial Area, Kedah Rubber City and Kedah Science and Technology Park.
MBSB Bhd Group Chief Executive Officer Rafe Haneef said the initiative would help businesses in sectors such as rail, automotive, aerospace, manufacturing and E&E expand with confidence.
On the other hand, NCIA Chief Executive Datuk Mohamad Haris Kader Sultan said the partnership would create greater financing opportunities for small and medium enterprises, local entrepreneurs and supply-chain partners seeking to raise capacity, adopt technology and enter multinational corporations’ value chains.
The collaboration supports the government’s push to attract sustainable investments, strengthen business resilience and accelerate economic development across the Northern Corridor.
