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Malaysia set to showcase country’s Islamic banking & finance

Published: 18/05/2012 09:27:00 PM GMT
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Kuala Lumpur: Malaysia is set to display its experience in Islamic banking and finance with an event of Country Showcase prior to the 9th annual edition of Summit of the Islamic Financial Services Board (IFSB) which is going to be held on 16-17 of this month. The Central Bank of the Republic of Turkey will host the summit for the first time at the Swissotel, The Bosphorus in the Turkish capital, Istanbul.

By Farhan Iqbal


Kuala Lumpur: Malaysia is set to display its experience in Islamic banking and finance with an event of Country Showcase prior to the 9th annual edition of Summit of the Islamic Financial Services Board (IFSB) which is going to be held on 16-17 of this month. The Central Bank of the Republic of Turkey will host the summit for the first time at the Swissotel, The Bosphorus in the Turkish capital, Istanbul.

Bank Negara Malaysia (BNM) has organized the Malaysia Country Showcase under the theme "Promoting Global Financial and Economic Linkages through Islamic Finance." BNM has been assisted by Malaysia International Islamic Financial Centre (MIFC) in the initiative aiming majorly at introducing Kuala Lumpur as a major global Sukuk origination hub.

The summit will also act as a platform for Malaysian Islamic financial institutions, asset management companies, Takaful firms and other entities such as Khazanah Nasional Berhad, the Malaysian sovereign wealth fund (SWF) and the Employees Provident Fund (EPF), the state pension fund, where they can discuss their advisory and structuring business and investment opportunities in the pursuit of a diverse and higher range of risk/rewards.

Assistant Governor at Bank Negara Malaysia, Encik Bakarudin bin Ishak, will inaugurate the Malaysia Country Showcase by a welcome address to the guests.

News Correspondent & Anchor at Bloomberg TV, Haslinda Amin, will moderate the Panel Discussion which is a main session of the showcase. Ilker Ayci, President, Investment Support and Promotion Agency of Turkey (ISPAT); Tim Leissner, Co-President & Managing Director, Goldman Sachs (Singapore) Pte; Azman Mokhtar, Managing Director, Khazanah Nasional Berhad; and Rafe Haneef, Chief Executive Officer, HSBC Amanah Malaysia Berhad will be included in the panelists.

IFSB member and non-member countries see the Country Showcase, a traditional pre-Summit event, as a platform to present their Islamic finance initiatives and share their experiences in adopting and promoting the growth of a sound and stable Islamic financial services industry.

This year’s Summit of the Islamic Financial Services Board (IFSB) is being organized under the theme "Global Financial Reforms: The Changing Regulatory Model and Islamic Finance." It will review the reforms in financial regulation structure and prudential standards if they equally furnish the Islamic financial services industry in addressing its future challenges as well as in identifying the priority areas in the prudential regulation of Islamic finance that may need focus and attention by regulators and market players alike.

"International Regulatory Initiatives to Enhance Global Financial Stability"; "Impact of International Regulatory Initiatives on the Islamic Financial Services Industry"; "Regulatory Harmonisation and Cross-border Linkages in Islamic Finance"; "Global Financial Infrastructure of Islamic Finance"; and "Global Regulatory Reform and the Prospects for the Islamic Financial Services Industry" are going to be main sessions in the summit.

Special Session in the afternoon on the same day of the Country Showcases is another traditional pre-IFSB Summit event. This special session discusses an important issue being faced by the industry. The title of this year's Special Session is "Promoting Financial Inclusion through Islamic Microfinance" of which Malaysia and Bank Negara are proactive advocates.



Malaysia, a likely hub for Islamic Banking & Finance

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