The Prime Minister of Malaysia, YAB Dato' Sri Mohd. Najib Bin Tun Abdul Razak, today introduced Malaysia's Islamic finance marketplace to the world and the new iconic brand identity - "Malaysia: World's Islamic Finance Marketplace", marking a significant milestone in the development of the Islamic finance industry in Malaysia. The Prime Minister also took the opportunity to extend an open invitation to the global financial community to collaborate with and mutually benefit from Malaysia's Islamic finance marketplace that is complete with a comprehensive regulatory, supervisory, Shariah and legal framework.
Malaysia has in place a comprehensive and progressive Islamic Finance
Marketplace that has grown significantly over 30 years. Global industry
players and market participants can take advantage of the innovation,
expertise and deal flows that emanate from Malaysia's Islamic finance
marketplace for business deals from anywhere in the world.
The current level of sophistication of Malaysia's Islamic finance
marketplace is the result of the concerted efforts of Bank Negara
Malaysia and Securities Commission Malaysia, Shariah scholars and the
Islamic financial industry community.
Malaysia's marketplace drivers can also leverage on Malaysia's
comprehensive marketplace framework to further drive the development of
the industry through thought leadership, innovation and increased cross
border, multicurrency deal flow for business deals.
Malaysia has consistently emerged as one of the leading destinations in
Islamic finance, particularly in the Islamic banking, sukuk and Islamic
equities markets. Malaysia has taken the lead in a number of global
rankings in the areas of regulation, products and services,
infrastructure, ease of doing business, risk management and audit as
well as statistics, marketing and education.
The recent inaugural issuance of a Murabahah-based Government Investment
Issue (GII) is an important development in the Islamic financial
industry. The RM4.0 billion issuance of GII under the widely accepted
structure of Murabahah was 2.92 times oversubscribed; the highest
bid-to-cover year-to-date, translating into a highly competitive yield.
Malaysia's Islamic finance marketplace is today characterised by a
robust regulatory, supervisory, Shariah and legal framework, a deep
primary and active secondary sukuk market, an efficient price discovery
mechanism, a diverse talent base with global capabilities and an
efficient system for multi-currency clearing and settlement. The key
components of Malaysia's Islamic finance marketplace include Islamic
banking, Islamic capital market, takaful and re-takaful, Islamic money
market, professional ancillary services, talent development
infrastructure and Islamic fund and wealth management.
To provide a comprehensive view into Malaysia's Islamic finance marketplace, - www.mifc.com - showcases the Expertise, Innovation and Deal Flows that are emanating from Malaysia's Islamic finance marketplace.
Malaysia International Islamic Financial Centre (MIFC) initiative was
launched in 2006 to develop Malaysia as an international marketplace for
Islamic finance. Since its inception more than 30 years ago, Islamic
finance in Malaysia has progressed and developed into a sophisticated
Islamic finance marketplace that is characterised by a robust regulatory
and supervisory framework, a deep primary market and active secondary
sukuk market, a diverse talent base with global capabilities and
connectivity, and product breadth and depth. The Malaysian marketplace
also provides an efficient system for multi-currency clearing and
The MIFC initiative comprises a community network of the
country's financial sector regulators, including Bank Negara Malaysia
(Central Bank of Malaysia), Securities Commission Malaysia, Labuan
Financial Services Authority and Bursa Malaysia (Kuala Lumpur Stock
Exchange), Government ministries and agencies together with industry
participation from the banking, takaful, re-takaful, capital market
institutions, human capital development institutions and professional
ancillary services companies which are participating and working
collaboratively in Islamic finance. Malaysia welcomes industry
practitioners to conduct international business in Islamic finance,
while enjoying a highly conducive business environment. As a destination
for financial investment, Malaysia offers a marketplace for global
Shariah-compliant investment opportunities via a wide range of
international financial institutions, extensive expertise and an array
of Islamic financial products and services.
For more information on the MIFC initiative, please visit www.mifc.com.
© Bank Negara Malaysia, 2013. All rights reserved.