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More initiatives, innovations to promote participation in Islamic finance
Last update: 25/04/2018

KUALA LUMPUR, April 25 (Bernama) --†The Islamic finance industry is creating many initiatives and innovations to promote the take-up rate of its products.

Among the innovations are†green sukuk, which was†an approach that allowed†financial investments to flow into sustainable development projects, while†encouraging†the development of a more sustainable economy.†

During a 45-minute†panel discussion at the Franklin Templeton Islamic Forum 2018 here today, the Employees Provident Fund (EPF) Capital Market Department Head,†Mohamad Hafiz Kassim, said the fund was†among the bigger subscribers of sukuk in Malaysia at†23 per cent total sukuk and bond subscriptions. †He said the†fund's portfolio†market value as at end-2017 was†RM791 billion and 50 per cent of it, syariah compliant.

Previously, it was reported that the EPF would†grow its syariah-compliant assets by at least RM25 billion a year on average to†meet†demand from†members.

Meanwhile, another panellist, Franklin Templeton Investments†(ME) Ltd Global Sukuk and MENA Fixed Income Chief Information Officer,†Mohieddine Kronfol, said despite Malaysia being a Muslim country, there was†still very limited participation in the Islamic finance industry and†hoped to see more to come onboard the sector.

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MIDDAY, FRIDAY, MAY 18
US 3.9755/9785
S'pore 2.9597/9631
100 Yen 3.5828/5868
Sterling 5.3705/3761
Euro 4.6927/6974
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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