Industrial And Commercial Bank of China (Malaysia) Berhad Becomes The 23rd Member of The Association Of Banks in Malaysia

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Industrial And Commercial Bank of China (Malaysia) Berhad Becomes The 23rd Member of The Association Of Banks in Malaysia

Kuala Lumpur, Friday, 23 July 2010 – The Association of Banks in Malaysia (ABM) recently welcomed the Industrial and Commercial Bank of China (Malaysia) Berhad (ICBC) as its 23rd member following approval by ABM’s Council of ICBC’s application for membership. The inclusion of ICBC makes it the 14th locally incorporated international bank operating in Malaysia under ABM’s list of member banks.

The establishment of ICBC in Malaysia represents an important development in forging stronger business and financial ties between The People’s Republic of China and Malaysia. “We are delighted to welcome ICBC as our newest member and we certainly look very much forward to collaboration on various industry projects and issues. We believe that ICBC’s foray into the Malaysian market is timely and will add value to the commercial banking sector,” said Chuah Mei Lin, ABM’s Executive Director.

About The Association of Banks in Malaysia

The Association of Banks in Malaysia was formed in November 1973 with the primary objective of establishing and promoting a sound banking system in Malaysia in cooperation and consultation with Bank Negara Malaysia. Its members comprise the 23 commercial banks that currently operate in Malaysia.

ABM aims to facilitate, and create a conducive banking environment while promoting orderliness, and ethical banking practices. ABM also pursues wide-ranging issues to assist the industry in its efforts to remain competitive. Policies affecting banking infrastructure, interest rates and clearing system, as well as areas on consumer education, risk management, and human resource development are part of the ABM platform. Member banks’ contributions to socio-economic planning and development of the country are some of the issues that form ABM’s agenda. The public can also call a toll-free service called ABMConnect at 1-300-88-9980 for information on banking issues in the country. For more information, visit www.abm.org.my.

Updated List of Chargees for Executing Form 42B