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389160
Fri, 11/27/2015 - 05:07
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Malaysia's Islamic Finance Progress Among Highlights At CHOGM Business Forum

From Mohd Razman Abdullah VALLETTA (MALTA), Nov 27 (Bernama) -- The progress of Malaysia's Islamic finance system was among the highlights at the Commonwealth Business Forum on Nov 25-26 in Malta. As Malaysia has been at the forefront of Islamic finance, the forum, a prominent part of the 2015 Commonwealth Heads of Government Meeting (CHOGM) in Malta, mainly discussed what could be done to support access to Islamic finance and its potential for future innovation, said Wisma Putra (Malaysia's Foreign Ministry) Multi-Lateral Affairs Deputy Secretary General Ho May Yong. "Malaysia sent several delegates to explain the matter including Bank Negara (Central Bank) Assistant Governor Bakaruddin Ishak and Malaysian Employees Provident Fund Chief Executive Officer Shahril Ridza Ridzuan," she told Bernama Friday. In November, Prime Minister Najib Razak announced at the 11th World Islamic Economic Forum (WIEF) in Kuala Lumpur that Malaysia, as a leader in Islamic finance, could offer its experience and continue contributing to the global economy. In May, Najib also announced that Malaysia’s successful pricing of the US$1.5 billion global sukuk had strengthened the country’s position as an international centre for Islamic finance. The issuance comprised US$1 billion of 10-year and US$500 million of 30-year benchmark Trust Certificates (Sukuk) for a total size of US$1.5 billion. CHOGM, a biennial summit, is an important platform for the heads of government of member states to come together to discuss global and Commonwealth issues, and to decide on collective policies and initiatives. The CHOGM in Malta will address issues such as climate change, migration, violent extremism and radicalisation, building resilience in small states, sustainable development, the empowerment of youth, gender equality and human rights. Deputy Prime Minister Dr Ahmad Zahid Hamidi, who will be leading the Malaysian delegation, is expected to arrive Saturday. (photoBERNAMA) -- BERNAMA

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