(Kuala Lumpur, 18th) AFFIN Group and Baiduri Bank Group, the largest traditional bank in Brunei, have signed a memorandum of understanding (MoU) aimed at expanding banking cooperation between Malaysia and Brunei, and opening up business opportunities for clients in both countries. Baiduri Bank Group is one of Brunei’s largest providers of financial products and services.
This partnership combines AFFIN’s banking capabilities and network in Malaysia with Baiduri Bank’s strong local presence and market expertise in Brunei, thus establishing more direct financial channels for enterprises engaged in trade, investment, and business expansion between the two countries.
According to the MoU, both institutions will explore cooperation in areas such as commercial and retail banking, financing, trade finance and cash management, as well as investment services (including investment banking, stockbroking, asset management, and unit trusts). This will help expand opportunities, facilitate transaction flows, create new business, and broaden the coverage of financial solutions for customers in Malaysia and Brunei.
This partnership comes at a time when economic ties between these two neighboring ASEAN markets are continually deepening. Brunei remains one of Malaysia’s main trading partners, with bilateral trade expected to reach RM5.8 billion in 2025 and RM2.4 billion in the first half of 2026. The two countries have already identified further areas for cooperation in trade and investment, energy, connectivity, agriculture, tourism, and the halal economy, while also strengthening economic links between Brunei, Sabah, and Sarawak—thus creating a broader business environment for commerce, capital flows, and trade throughout the entire region.
Recently, AFFIN’s outstanding trade finance capabilities earned it the “Malaysia Domestic Trade Finance Bank of the Year” award at the Asian Banking & Finance Wholesale Banking Awards 2026, as well as the “Malaysia’s Best Trade Finance Bank” award at the Global Banking & Finance Review Awards 2026. In addition, AFFIN was listed in Fortune Southeast Asia 500 for the third consecutive year, demonstrating its platform strength and reputation, and laying a solid foundation for this collaboration.
Datuk Wan Razly Abdullah, President and Group Chief Executive Officer of AFFIN Group, said: “Malaysia and Brunei share close economic and business ties, and there is great potential for further deepening of business and investment flows between the two markets. AFFIN integrates traditional and Islamic banking, investment banking, asset management, and wealth management services. Coupled with Baiduri Bank’s established presence in Brunei, we will have a broader range of services to better meet our clients’ financing, investment, and wealth management needs.”
“This memorandum of understanding is designed to provide a platform to expand cross-border connectivity and create new opportunities for customers. As economic ties continue to strengthen between Malaysia and Brunei—including the Borneo region—and with Brunei Tourism Year in 2027 approaching, we see tremendous space to deepen business activities and create sustainable value for both organizations.”
Bauduri Bank CEO Ti Eng Hui said: “Brunei and Malaysia have long-established deep ties in the fields of economy, business, and culture. With opportunities continuously emerging in Malaysia, especially in the Borneo region, the collaboration between AFFIN Group and Baiduri Bank will better strengthen these ties and create more opportunities for businesses and clients in both markets.”
This collaboration aligns with AFFIN Group’s “Accelerate 2028” (AX28) plan, which is centered on three strategic pillars: “Excellence in Customer Service,” “Digital Leadership,” and “Responsible Banking.” It aims to support AFFIN Group’s vision of delivering innovative client solutions and seizing new growth opportunities.
The MoU was signed by AFFIN Group President and Group CEO Datuk Wan Razly Abdullah and Baiduri Bank CEO Ti Eng Hui, and witnessed by Baiduri Bank Head of Institutional Banking Ak Nor Muhammad Nizam Pg Haji Tengah and AFFIN Hwang Investment Bank Chairman Hasli.
This partnership combines AFFIN’s banking capabilities and network in Malaysia with Baiduri Bank’s strong local presence and market expertise in Brunei, thus establishing more direct financial channels for enterprises engaged in trade, investment, and business expansion between the two countries.
According to the MoU, both institutions will explore cooperation in areas such as commercial and retail banking, financing, trade finance and cash management, as well as investment services (including investment banking, stockbroking, asset management, and unit trusts). This will help expand opportunities, facilitate transaction flows, create new business, and broaden the coverage of financial solutions for customers in Malaysia and Brunei.
This partnership comes at a time when economic ties between these two neighboring ASEAN markets are continually deepening. Brunei remains one of Malaysia’s main trading partners, with bilateral trade expected to reach RM5.8 billion in 2025 and RM2.4 billion in the first half of 2026. The two countries have already identified further areas for cooperation in trade and investment, energy, connectivity, agriculture, tourism, and the halal economy, while also strengthening economic links between Brunei, Sabah, and Sarawak—thus creating a broader business environment for commerce, capital flows, and trade throughout the entire region.
Recently, AFFIN’s outstanding trade finance capabilities earned it the “Malaysia Domestic Trade Finance Bank of the Year” award at the Asian Banking & Finance Wholesale Banking Awards 2026, as well as the “Malaysia’s Best Trade Finance Bank” award at the Global Banking & Finance Review Awards 2026. In addition, AFFIN was listed in Fortune Southeast Asia 500 for the third consecutive year, demonstrating its platform strength and reputation, and laying a solid foundation for this collaboration.
Datuk Wan Razly Abdullah, President and Group Chief Executive Officer of AFFIN Group, said: “Malaysia and Brunei share close economic and business ties, and there is great potential for further deepening of business and investment flows between the two markets. AFFIN integrates traditional and Islamic banking, investment banking, asset management, and wealth management services. Coupled with Baiduri Bank’s established presence in Brunei, we will have a broader range of services to better meet our clients’ financing, investment, and wealth management needs.”
“This memorandum of understanding is designed to provide a platform to expand cross-border connectivity and create new opportunities for customers. As economic ties continue to strengthen between Malaysia and Brunei—including the Borneo region—and with Brunei Tourism Year in 2027 approaching, we see tremendous space to deepen business activities and create sustainable value for both organizations.”
Bauduri Bank CEO Ti Eng Hui said: “Brunei and Malaysia have long-established deep ties in the fields of economy, business, and culture. With opportunities continuously emerging in Malaysia, especially in the Borneo region, the collaboration between AFFIN Group and Baiduri Bank will better strengthen these ties and create more opportunities for businesses and clients in both markets.”
This collaboration aligns with AFFIN Group’s “Accelerate 2028” (AX28) plan, which is centered on three strategic pillars: “Excellence in Customer Service,” “Digital Leadership,” and “Responsible Banking.” It aims to support AFFIN Group’s vision of delivering innovative client solutions and seizing new growth opportunities.
The MoU was signed by AFFIN Group President and Group CEO Datuk Wan Razly Abdullah and Baiduri Bank CEO Ti Eng Hui, and witnessed by Baiduri Bank Head of Institutional Banking Ak Nor Muhammad Nizam Pg Haji Tengah and AFFIN Hwang Investment Bank Chairman Hasli.