Home » wire - Can Islamic finance play key role in growth and prosperity?

25/07/2011 02:26:49 PM GMT   Comments ()     Add a comment   Print     E-mail to friend

 [] In perhaps one of her more potentially important speeches in recent times, Zeti Akhtar Aziz, governor of Bank Negara Malaysia, stressed that the increasing internationalization of Islamic finance and the burgeoning trade and economic linkages between the emerging countries present an important opportunity for the industry to make a meaningful and enhanced contribution toward economic growth and prosperity of these countries. "The transition of Islamic finance into the mainstream of the global financial system is an opportunity for the Nusantara financial intermediaries, in particular in Indonesia and Malaysia, to open new frontiers and to participate in this trend and thereby strengthen further our economic and financial linkages. With our own respective comparative advantages, we can leverage on the complementarities between our respective economies that will bring forth synergistic effects which will in turn contribute toward expanding the markets, widen the spectrum of products and services, and enhance financial markets activities," she added. Zeti was addressing the Joint High Level Conference on Islamic Finance organized by Bank Negara Malaysia and the Bank of Indonesia which was held in Jakarta last week. omar1.1

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