Don’t exempt govt-backed securities issuance from governance process

(From left to right) Bank Muamalat Malaysia Berhad chief executive officer Datuk Mohd Redza Shah Abdul Wahid, Malaysian artist Raja Azhar Idris, Bank Muamalat Malaysia Berhad chairman Tan Sri Mohd Munir Abdul Majid, Datuk Seri Siti Nurhaliza Tarudin, Bank Muamalat Malaysia Berhad Business Banking Division head Nor Hamidah Abu Bakar, and Bank Muamalat Malaysia Berhad Human Capital Division executive vice president Azliza Abdul Rahman at the launch ceremony of Bank Muamalat's first Islamic Premier Banking services at the new Muamalat Beyond Premier Centre beside Ampang Point. - P. Nathan/The Star

KUALA LUMPUR: Government and government-related entities should not be exempted from issuing a prospectus and disseminating proper information ahead of any securities issuance for fund-raising activities, said Bank Muamalat Malaysia Bhd chief executive officer Datuk Mohd Redza Shah Abdul Wahid.

The banking industry should take hold of its governance process to acquire as much information as possible and deliberate before granting any possible financing, said the head of the Islamic bank owned by DRB-Hicom Bhd and Khazanah Nasional Bhd.