IslamicFinance.de

The government uses effective approach and adopts efficient and integrated structure to develop Malaysia as an international Islamic financial centre, said Deputy Finance Minister, Datuk Chua Tee Yong. He said the approach was due to the strong cooperation among various ministries, agencies, private sector and other stakeholders via the Malaysia International Islamic Financial Committee (MIFC) committee chaired by Bank Negara Malaysia governor. Asyraf Wajdi wanted to know whether the Finance Ministry has plans to develop the Islamic financial system in Malaysia by establishing ‘local centres’ as in Qatar, Bahrain, UK and Singapore. Chua said the plan and strategic issues would be discussed by MIFC exco to facilitate the administration and smooth implementation of the MIFC initiative.