KUALA LUMPUR, Aug 23 – Deputy Prime Minister Tan Sri Muhyiddin Yassin has invited the Islamic finance global community to collaborate and mutually benefit from Malaysia’s Islamic finance marketplace.
He said a comprehensive and progressive Malaysia’s Islamic finance marketplace, which has grown from strength to strength over the last decades, was useful for cross-border deals and would facilitate the flow of funds across the globe.
“With more than 30 years of development in Islamic finance and banking, Malaysia has a comprehensive Islamic finance product range complemented by a complete background of a well-regulated, syariah-compliant legal framework,” he said.
Speaking at gala dinner and the launch of International Council of Islamic Finance Educators (ICIFE) here Friday night, Muhyiddin praised Bank Negara Malaysia, Securities Commission Malaysia, syariah scholars and the Islamic financial industry community for their efforts to bring Malaysia’s Islamic finance marketplace to the current level of sophistication.
Prime Minister Datuk Seri Najib Tun Razak has introduced Malaysia to the international scene with the new iconic brand identity that is “Malaysia: World’s Islamic Finance Marketplace” in 2013.
Muhyiddin, who is also Education Minister, said the establishment of the ICIFE was timely to ensure the quality and professionalism of Islamic finance educators.He hoped that ICIFE would develop progressively in the future to be the premier global organisation that provided dynamic leadership in quality assurance and enhancement of Islamic finance education worldwide.
In another development, he said, the government was aware that there was a growing number of public and private universities offering Islamic finance and muamalat programmes.
“The difficulty we previously faced when we did not have national consensus on a standard education curriculum for Islamic Finance, is now resolved,” he said.Muhyiddin said a market-based Islamic finance education standard, approved and accredited by the Malaysian Quality Assurance of Malaysia was established through collaborative efforts of Islamic finance educators led by International Islamic University Malaysia, the Ministry of Education and the industry players.
– BERNAMA
