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“Hopefully, Arab investors who have withdrawn their investments from the United States will come to Malaysia,” he said.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

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