NEW DELHI: Malaysia is to officially get its first Indian bank next week with the launch of India International Bank (IIBB) in the country. The bank said it was hoping to boost the ease of banking for Indian workers and those who send money back to India from Malaysia. IIBB, a joint-venture between three Indian Banks, namely, Bank of Baroda, Indian Overseas Bank and Andhra Bank, will make a capital investment of RM300 million, the bank said on Friday in a statement. “The joint venture will add to the robustness of the Malaysian financial system. The promoter banks will bring in the expertise of international banking,” the Indian High Commission in Malaysia said in a statement here today. The bank will provide a full range of banking services to the customers. IIBB will introduce products and services catering to the requirements of the local population, while facilitating trade and investments in the country.
