Exim Bank offers cheap loans to halal exporters

Quick Summary:

The Export-Import Bank of Thailand (Exim Bank) has teamed up with the Islamic Bank of Thailand (IBank) to offer loans with interest rates lower than the prime rate to support the goal of becoming Asean's halal hub by 2028.

Additionally, development institutions within the OIC, such as the Islamic Development Bank and the Islamic Centre for Development of Trade, as well as important UN agencies such as the UNHCR and World Bank, have shown interest in Islamic finance from a social perspective, he said.

According to Mr Rak, participants in the project will receive interest rates below the prime rate from Exim Bank to use as working capital or for investment expansion.

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Article Details

Category: EconomyBusiness

Markets: ThailandBrazilIndiaIndonesiaMalaysiaSaudi ArabiaTurkeyUnited Arab Emirates

Topics: Export Bank Food Development Halal Thailand Exim Islamic Interest Prime Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 04:00:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 540 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 21962825

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