PUTRAJAYA: The Securities Commission (SC) and the Dubai Financial Services Authority (DFSA) have signed a landmark agreement that would allow Islamic investment products to be marketed and sold in each other's country, a move seen as a growth catalyst for the domestic Islamic capital market.
The agreement, which was the first of its kind for Islamic investment products and the first that would see foreign unit trusts being sold directly to Malaysians, would allow Malaysian companies and Dubai-registered companies to sell Islamic investment products between the countries with minimal regulatory intervention.