Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Malaysia on right track to be global Islamic finance hub: Amiruddin
Last update: 23/04/2019

KUALA LUMPUR, April 23 (Bernama) -- Malaysia is on the right track towards becoming a leading global Islamic finance hub in the near future.

Deputy Finance Minister Datuk Ir Amiruddin Hamzah said this in the Dewan Negara on Monday in response to a question from Senator Asmak Husin. 

The Thomson Reuters’ Islamic Finance Development Report 2018 showed that Malaysia remains a leader among 56 countries for Islamic finance institutions.

Malaysia was also involved in the global initiative to establish the International Islamic Liquidity Management Corp (IILM) in 2010 for strengthening liquidity management of Islamic banks.

Amiruddin said Malaysian banks were also appointed the arranger and manager for sovereign sukuk issuance of other countries, including Turkey and Hong Kong, which goes to prove that Malaysian Islamic finance expertise is increasingly acknowledged internationally.

Responding to Asmak’s supplementary question on the government’s plan to increase the talent pool and human capital involved in Islamic finance, the deputy minister said the International Centre for Education in Islamic Finance (INCEIF) offered master degrees and doctorates that can provide the expertise needed to bring the sector to the international level.

“In 2018, through its Islamic finance post-graduate programmes, INCEIF was accredited by the Association to Advance Collegiate Schools of Business, which placed the centre among the top five per cent of international institutes which offer business and Islamic finance programmes,” he said.

Amiruddin added that the International Shari’ah Research Academy for Islamic Finance (ISRA) specialises in applied research in Fiqh Muamalat (Islamic law dealing with finance and commerce), and provides advisory on matters related to Islamic finance for African and Commonwealth countries.

-- BERNAMA


 <Back>

Islamic Banking institutions urged to provide training to strengthen SME sector
Govt sets up special committee on Islamic Finance

 
Bank Muamalat's Mohd Arfaizal emerges champion of BNM's elocution contest

LIAM committed to increasing life insurance penetration rate
Govt likely to revise life insurance penetration rate target

 
LIAM appoints new president for 2019/2020 term

CLOSING, TUESDAY, SEP 17
US4.1810/1850
S'pore3.0345/0379
100 Yen3.8624/8671
Sterling5.1840/1907
Euro4.6058/6115
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
Not sure
 
  Main | News | Insurance

© 2019 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution