Comments on Islamic banking sector

DATUK ISMAIL SHAHUDIN 

Bank Muamalat Malaysia 

THERE is a lot of interest from the US, Britain and the Middle East and they are looking at Malaysia to lead in Islamic finance. Bank Muamalat is experiencing a compounded growth of 20% every year. We are encouraged by the flow of trade and business between Malaysia and the Middle East. 

ISSAM Z. AL-TAWARI 

Rasameel 

WE are a securitisation house specialising in debt arrangements in the Gulf Cooperation Council area. Malaysia's Islamic sector has developed in a dramatic way over the last five years, mainly due to the will of the authorities. We plans to set up a base in Kuala Lumpur. 

SAFDAR ALAM 

THERE is a huge amount of interest among Middle Eastern investors in Malaysian equities and infrastructure investments. There is a good economic model here. Investors in the Middle East who are saturated with risks will look here.  

DAVIDE BARZILAI 

Norton Rose 

WE are lawyers drawing up structured Islamic products together with banks and syariah scholars. Our operations are in London, the Middle East, Hong Kong and Singapore. We help big Malaysian companies and banks do business in Europe and the world. We look forward to the opening of the legal market for foreign lawyers. 

GHOLAM SOURI 

General Manager, Foreign Department 

Bank Sederat Iran 

Malaysia has a lot of prospects and is the potential gateway to markets in Asia. There is also harmony in the country. 

There are Muslims here and Malaysia has the expertise in Islamic finance. That is why we want a presence in this country.  

We have been in touch with Bank Negara officials to look into ways where we can be an active player in this market. 

AJEET S. AHLUWALIA 

Director of Corporate Advisory 

Rakyat BTR Capital Partners Bhd 

The traditional US and European markets for the Middle East funds are far less attractive. These funds must find a new home and we have to create the instruments for it.  

The investments can be in real estate or even in the development of infrastructure projects. One attraction is the Iskandar Development Region. 

PROFESSOR DR VOLKER NIENHAUS 

President 

University of Marburg, Germany 

It is not just about the funds. Malaysia is an attractive location for “triangular” activities whereby a project can be in this country, but the technology can come from, say Germany, and the funds from the Middle East. 

The funds may want to look for projects to invest in and Malaysia has the potential to grow Islamic finance further. 

JAN B. DJERF 

Senior Vice-President/General Manager 

Handelsbanken 

This is the first time I have been involved in Islamic finance but as I see it, Malaysia does not have so many challenges versus its regional rivals.  

It is a stable country, has good infrastructure and steady financial institutions. The country is growing and moving in the right direction to attract the funds.