MIFC Starts Road Show In Kuwait To Promote Malaysia As Islamic Finance Hub

Bernama -- A Malaysian delegation headed by the Raja Muda of Perak, Raja Dr Nazrin Shah on Wednesday kick-started a five-day road show in Kuwait and Riyadh to promote Malaysia as the international hub for Islamic Finance.

The roadshow was spearheaded by the Malaysia International Islamic Financial Centre (MIFC), which came into existence in 2006 under a collaborative effort by the country's financial and market regulators.

They include the Bank Negara Malaysia, Securities Commission, Labuan Offshore Financial Services Authority (LOFSA) and Bursa Malaysia - together with industry participation from the banking, takaful and capital market sectors in Malaysia.

In the opening of the first leg of the road show, Raja Dr Nazrin met with his Kuwaiti counterpart, Crown Prince Sheikh Nawaf Al-Ahmad Al-Jaber at the Seif Palace here, where they discussed among others the potential to further strengthen ties in Islamic Finance between the two countries.

Tomorrow, the Malaysian regulators and market players would be meeting with their respective counterparts to network and vie for potential business linkages.

Participants from the private sector at the meet include representatives from Khazanah Nasional Bhd, RHB Islamic Bank, Maybank Islamic, AmBank, i-VCAP Management Sdn Bhd, Kuwait Finance House and Nomura Asset Management Malaysia.

The delegation would be leaving for the second leg of the road show to Riyadh, Saudi Arabia on Oct 24 for another three-day meeting.