MANAMA (Bahrain): Several new co-operation agreements discussed during Prime Minister Datuk Seri Anwar Ibrahim's inaugural official visit to Bahrain, including on financial technology (fintech), are expected to be formalised before May.
Anwar said that particular focus was given to Islamic fintech, which both parties agreed needs to be developed with several sophisticated instruments.
"So far, we have only been replicating conventional banking instruments.
"But we must move forward through thorough research, understanding Shariah regulations and Maqasid Shariah requirements, and ensuring that these institutions become stronger," he said on Thursday (Feb 20).
He said this at a press conference after concluding his official visit to Bahrain at the invitation of Crown Prince and Prime Minister of Bahrain, Salman Hamad Al Khalifa. Anwar is scheduled to depart for Kuala Lumpur at 5pm local time (10pm Malaysian time). – Bernama
