CIMB and SimplySiti tie-up for halal beauty business

CIMB Islamic Bank has tied up with SimplySiti, a Malaysian brand offering halal beauty products, to help the latter expand its halal beauty care business beyond Malaysian.

The local brand will also leverage the end-to-end support of the CIMB-ASEAN Halal Corridor and CIMB’s regional network, to meet the demand for halal beauty, cosmetics and skincare products across the region. The CIMB-ASEAN Halal Corridor is an enhanced trade network linking halal businesses across China and the region, which was launched last September. The initiative focuses on agribusiness, cosmetics, F&B, modest fashion and pharmaceuticals.

Meanwhile, CIMB Islamic has also joined the Trade Club Alliance, a worldwide network comprising over 16 banks and their clients in 19 countries. This will enable business clients of CIMB to link with trade partners worldwide through a global directory of reliable and trusted buyers and sellers which are supported by globally reputable banks.

Rafe Haneef (pictured right), CEO, group Islamic banking, CIMB Group, said while opportunities for growth are aplenty for homegrown businesses and SMEs, the challenge is always on how to scale up. "Through this collaboration, we are excited to facilitate SimplySiti’s move into its next growth phase by reaping the vast Halal business opportunities within ASEAN," he said.

President and founder of SimplySiti, Siti Nurhaliza (pictured left), added: "The support for SimplySiti’s products from customers and fans has been really encouraging and we are very happy to soon be able to bring our brand to Indonesia, and moving forward, to other parts of ASEAN. We also appreciate our strong relationship with CIMB Islamic and look forward to this collaboration in taking our business a long way forward."