OIC used as a platform to woo Arab investors

  • Nation
  • Tuesday, 28 Oct 2003

THE 10th Organisation of the Islamic Conference Summit held recently was used as a platform to promote Islamic equity-based, private debt securities and risk management products among potential investors from the Arab nations. 

“We have distributed brochures on information relating to Islamic-based products to the delegates to attract future investments from Arab countries during the OIC Summit,” Deputy Finance Minister Datuk Dr Shafie Mohd Salleh told reporters at the Parliament lobby. 

“We have already carried out promotions in Bahrain and several Middle Eastern countries. 

“It will be a continuous process to promote Malaysia as a centre of Islamic Capital Market. 

“Hopefully, Arab investors who have withdrawn their investments from the United States will come to Malaysia,” he said. 

Dr Shafie cited the oversubscription of sukuk (Islamic bonds) as an example of an investment product which had attracted investors from the Middle East. 

“The Government had offered sukuk worth US$600mil (RM2.28bil) to the investors and it was oversubscribed by the investors,” he said, but declined to provide details. 

Earlier, he told Datuk Husni Hanadzlah (BN – Tambun) that the Government was hoping to attract more investors from Muslim nations in West Asia. 

He said according to statistics provided by the Securities Commission, 51% of the local private-debt securities were Islamic-based.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Nation

Croc's interstate escapades spawns snappy jokes from Malaysians online
Ismail Sabri: Approximately 3.6mil B40 families to get Covid-19 care packages
British woman who killed husband in self-defence in Langkawi returns home
Sabah assembly staff to take swab tests prior to sitting next week, says state Speaker
PM: Frontliners, elderly to get booster shots once 80% of adults vaccinated
Australia to send officials to provide further understanding on Aukus, says Saifuddin
Illegal house renovation among causes of Kemensah Heights landslide, says Takiyuddin
Education Ministry: All private kindergartens registered with it can reopen
Tengku Zafrul: With new sectors reopening, remain vigilant and adhere to SOPs
Apply common sense if there is legal conflict, says Lee Lam Thye

Stories You'll Enjoy