| Thursday
March 22, 2007 Growing role of private sector in Islamic capital markets KUALA LUMPUR: The role of the private sector will become even more critical with Islamic capital markets moving into the next growth phase. “We expect higher levels of investment in product origination and distribution capabilities, and in building intellectual capacity to accelerate growth momentum and maximise opportunities. “Widespread availability of high quality intermediation services is critical to its next phase of growth,” Securities Commission chairman Datuk Zarinah Anwar said in her keynote address at Invest Malaysia 2007. She said the Government and the regulator would continue to play their roles as catalyst and facilitator but product innovation to ensure global compatibility and acceptance, branding and promotions would have to be pursued by the private sector.
Malaysia, with its successes in issuing sukuk, could continue to innovate and market products for global investors, said Zarinah. Kuwait Finance House (M) Bhd managing director Salman Younis felt that Malaysia needed to play a more active role in tapping the Gulf Cooperation Council money as its competitors were already doing so. Bank Negara deputy governor Datuk Mohd Razif Abdul Kadir felt the way forward for Malaysia was to move from being a hub to an Islamic banking centre of excellence |
