THE Labuan International Financial Exchange (LFX) and Bahrain-based International Islamic Financial Market (IIFM) are to jointly develop an Islamic capital market with enhanced global reach.
LFX chairman Datuk Mohd Azlan Hashim and IIFM chief executive officer Abdul Rais Majid had signed a Memorandum of Understanding (MoU) on Monday to promote development of channels of communications and exchange of information in the listing and active secondary trading of Islamic financial instruments.