KUALA LUMPUR, 8 September 2021 – The Malaysian Investment Development Authority (MIDA) and Citibank Berhad (Citi Malaysia) today inked a Memorandum of Understanding (MOU) for a partnership to extend a financial platform and a seamless provision of end-to-end banking services by Citi Malaysia to new and existing foreign investors in Malaysia.
The MOU was signed virtually by MIDA Chief Executive Officer, Mr. Arham Abdul Rahman and Citi Malaysia Chief Executive Officer, Mr. Usman Ahmed. The ceremony was also attended by Citi Malaysia’s Head of Corporate Banking, Ms. Zuliana Tann, Head of Global Subsidiaries Group, Mr. Biplab Banerjee and Head of Treasury and Trade Solutions, Mr. Abdul Jalil Jalaludin; as well as MIDA’s Deputy Chief Executive Officer, Mr. Sivasuriyamoorthy Sundara Raja, and Director of Foreign Investment Promotion, Mr. Faizal Jalaludin.
Mr. Arham Abdul Rahman, CEO of MIDA, appreciated the collaboration to stimulate active business environment in the current economic recovery. He added, “In response to the changing global business landscape, Malaysia is adopting bold and impactful initiatives to encourage existing as well as new investors and industry players to induce new investments into the country.
“The MOU with Citi Malaysia signifies MIDA’s continuous commitment in pursuing high technology and high value-added investment projects according to the National Investment Aspiration (NIA) framework and goals of the 12th Malaysia Plan in driving further economic growth. I trust this partnership will also boost the Government’s on-going efforts to position Malaysia as the pre-eminent preferred investment destination in the region”.