CIMB pledges S$2.98b to support Johor-Singapore SEZ

The platform offers tailored support services including fast-track account setup, regulatory guidance, and banking solution.

CIMB Group has pledged S$2.98b (RM10b) in funding to support business expansion and cross-border investment in the newly established Johor-Singapore Special Economic Zone (JS-SEZ), marking a significant move to accelerate regional economic integration.

Announced on 21 April 2025, the commitment includes the launch of the ASEAN Financial Passport, a new cross-border banking platform aimed at helping businesses navigate regulatory differences and operate seamlessly across the region.

The platform offers tailored support services, including fast-track account setup, regulatory guidance, and banking solutions for SMEs and corporates, such as SMEBizReady, GreenBizReady, and HalalBizReady.

To support this initiative, CIMB has deployed a dedicated team of 30 experienced bankers in Malaysia and Singapore to guide clients entering the zone. It currently operates 28 branches in Johor, with six designated to provide JS-SEZ-specific support, and is exploring new branch locations near the Johor-Singapore Rapid Transit System Link checkpoints.

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