Mizuho Bank Malaysia

International Islamic Trade Finance Corporation and Mizuho Bank Malaysia sign $100 mln trade financing deal

The International Islamic Trade Finance Corporation (ITFC) signed a US$100 million Murabaha-structured line of trade finance with Mizuho Bank Malaysia, a subsidiary of Mizuho Bank Japan. This financing will help ITFC extend its support to the member countries under its COVID-19 Response Plan. The financing is ITFC’s first partnership with a Japanese bank, signalling an expansion of its partners around the world. The virtual signing ceremony took place between Eng. Hani Salem Sonbol, CEO ITFC and Mr. Shojiro Mizoguchi, the Managing Director & CEO, Mizuho Bank (Malaysia) and witnessed by Mr. Hidekatsu Take, the Managing Executive Officer of Mizuho Bank.

ICD, Mizuho Bank (M) Berhad seal $150m #Murabahah deal

The Islamic Corporation for the Development of the Private Sector (ICD) and Mizuho Bank have formalized the signing of a Murabahah deal. The financing is earmarked for the purpose of scaling up of ICD’s projects in its selected 55 member countries. The $150 million Murabahah agreement is the second bilateral Islamic facility that has been extended to ICD by Mizuho Bank. The agreement was signed by Khaled Al Aboodi, CEO of ICD and Shojiro Mizoguchi, CEO of Mizuho Bank. Al Aboodi expressed his strong support for the partnership. Shojiro Mizoguchi said he was very proud to continue to work with ICD and looking forward to leverage on each other’s expertise and experience.

Source: 

http://saudigazette.com.sa/article/521372/BUSINESS/ICD-Mizuho-Bank-(M)-Berhad-seal-$150m-Murabahah-deal

Mizuho opens $300m Islamic #credit facility to Jeddah group

Mizuho Bank #Malaysia opened a $300 million credit facility to the Islamic Corporation for the Development of the Private Sector (ICD). The two-year deal will finance projects in the member countries of ICD. According to ICD Chief Executive Khaled Al Aboodi, the $300 million accounts for 24% of funding programs earmarked by ICD in 2017. He added that funds could be disbursed for hospitals in Gambia, manufacturing facilities in Tajikistan or trade finance in Maldives. For Mizuho Bank Malaysia, the deal marks its first cross-border bilateral Islamic facility based on the concept of Murabahah. The bank's deputy CEO, Shinichi Nishiyama, said lending to ICD will expose Mizuho Bank Malaysia indirectly to the markets in Islamic countries and they are looking forward to a long-term partnership with ICD.

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