DUBAI: Malaysia has a new bank in town, with the official launch of the National Bank of Abu Dhabi's National Bank of Abu DhabiMalaysia Berhad (NBAD-Malaysia) in Kuala Lumpur, the bank said in a statement published by Gulf News early Thursday. It is part of the United Arab Emirates' bank expansion plans into 14 countries. “The opening of NBAD's first branch in Southeast Asia is a major step for the National Bank of Abu Dhabi. Southeast Asia is one of the fastest growing regions of the world with a strong commercial link to the UAE and Gulf Cooperation Council (GCC)," said Qamber Ali Al Mulla, the senior general manager of International Banking Division of NBAD. “Malaysia represents a strategic importance as a regional hub. The move demonstrates our confidence in the local market and in our ability to provide excellent products and services in the region,” the statement added. It is also a sign of the economic strength between the UAE and Malaysia, where the Emirates was Malaysia's largest trading partner in the Gulf region last year with some RM21.06 billion. “We are strategically positioned to bridge Arab business interest with Malaysia and to promote bilateral trade and investments as we have a firm foothold in the UAE complemented by a strong presence in the GCC and MENA regions," said Leong See Meng, the Chief Executive Officer of NBAD – Malaysia.
