MIFC Epicentre March 2014 / Jamadilawal 1435H
Islamic finance is expected to contribute significantly to the growing economies in Emerging Asia. Trade growth, infrastructure and industrial expansion, increasing investor interest in Shariah-compliant capital markets and the burgeoning number of high-net-worth individuals all offer prospects for the expansion of the multi-faceted Islamic finance industry.
Other Highlights:
Creating Greater Opportunities for Internationalisation of the Islamic Capital Market
The Malaysian capital market grew by 10.5% to RM2.7 trillion in 2013, said the Securities Commission Malaysia (SC) in conjunction with the release of its annual report. The Islamic capital market grew by 8.8% to RM1.5 trillion, with Shariah-compliant assets representing 56% of the overall capital market.
Sumitomo Mitsui Banking Corporation Malaysia Berhad, Wholly – Owned Subsidiary of Sumitomo Mitsui Banking Corporation, Commences Islamic Finance Services
Sumitomo Mitsui Banking Corporation announced that its wholly-owned subsidiary Sumitomo Mitsui Banking Corporation Malaysia Berhad has commenced Islamic finance services as part of the initiatives to strengthen SMBC's operations in the Asia Pacific region. The ability to offer Islamic finance services in Malaysia, the key market in Asian Islamic finance will enable SMBCMY to better meet the needs of its clients and contribute to the development of the financial markets in Malaysia.
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