ADVERTISEMENT

Malaysia should look beyond ringgit to draw Chinese to sukuk market


"The policy makers have expressed interest to make Malaysia a hub for Islamic finance and to a certain extent it's very difficult to do that if everything is denominated in the local currency," he said.  "That segment is something that I feel like Malaysia could play a role in, in trying to attract Chinese companies. But to really be able to (do that), it has to be not just (fundraising) in Malaysia but internationally," Mohieddine Kronfol said. (Filepic shows main business district in Kuala Lumpur)

"The policy makers have expressed interest to make Malaysia a hub for Islamic finance and to a certain extent it's very difficult to do that if everything is denominated in the local currency," he said. "That segment is something that I feel like Malaysia could play a role in, in trying to attract Chinese companies. But to really be able to (do that), it has to be not just (fundraising) in Malaysia but internationally," Mohieddine Kronfol said. (Filepic shows main business district in Kuala Lumpur)

KUALA LUMPUR: Malaysia's Islamic bond market could attract Chinese companies if there were more foreign currency-denominated issues, a chief investment officer at fund manager Franklin Templeton Investments said.

Malaysia is one of the largest markets for Islamic finance, which follows religious principles such as bans on interest and monetary speculation.

Corporate News , Banking

   

ADVERTISEMENT