The SME Bank of Russia is interested in emulating the business module adopted by Malaysia’s SME Bank.

Kirill Semenov, Deputy Chairman of the Board, SME Bank of Russia, said that the SME Bank had no direct contact with its clientele, with businesses done via other networks such as commercial banks.

Kirill and five other delegates from SME Bank of Russia were in Malaysia for a three-day visit, following a memorandum of understanding (MoU) signed by the two SME Banks in September 2012.

The MoU aims to set a platform for the two parties to cooperate in the development of small and medium enterprises in their respective countries.

Semenov said at a media briefing on Wednesday that the SME Bank of Russia hopes the short visit would complement the two parties’ collaborative efforts and set the platform for more regular exchange of opinions.

The SME Bank of Russia has also established cooperation with Exim Bank of India, International Finance Corporation in Washington, United States and China Development Bank.