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Sunday, 29 June 2008

UK financial institutions to invest in Malaysia

Malaysia’s Islamic banking system has attracted the interest of financial institutions in Britain which are keen to start operations in the country and expand their activities.

Malaysia’s Deputy Prime Minister, Datuk Seri Najib Tun Razak, said that a UK-based financial institution involved in insurance and takaful has opened a branch in Labuan. In addition, he said, a bank in the UK had applied to expand its activities in Malaysia.

“The bank’s application to expand its activities will depend on approval from Bank Negara Malaysia,” he told reporters after meeting Lord Mayor of the City of London, David Lewis, at his office in Mansion House on June 9.

Najib was on a three-day working visit to Britain to attend the Commonwealth Mini Summit to discuss reforms in international institutions.

Conference on resilience and stability of Islamic financial system
Islamic Financial Services Board (IFSB) and the Institute of International Finance (IIF) are jointly organising a Conference themed Enhancing the Resilience and Stability of the Islamic Financial System November 20-21 in Kuala Lumpur, which Bank Negara Malaysia is hosting.
The Seminar is organised in response to the increasing global interest shown in Islamic financial services and is the first such cooperation between the IFSB and IIF.

The one and half-day conference will discuss and deliberate issues relating to the resilience and stability of the Islamic financial system during periods of economic difficulties and crisis.

(The Muslim News)

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