Thursday, February 4, 2010

Malaysia Needs Vibrant Stock Market For Islamic Finance Growth

KUALA LUMPUR, Jan 29 (Bernama) -- Malaysia needs to develop a vibrant stock market to attract asset flow and support the growth of Islamic finance, first holder of the International Centre for Education in Islamic Finance (INCEIF) chair of Islamic finance, Dr Abbas Mirakhor, said Friday.
According to Abbas, a stock market that is highly liquid will attract assets from all over the world and fits into the evolution of Islamic finance.
"Malaysia has the ability to attract resources from all over the world. It can achieve this by building on its capacity as a resilient financial sector hub in the region," he said at a public lecture at Bank Negara Malaysia here Friday.
He also said that Malaysia has the potential to be a global financial hub as the centre of gravity of the world economy shift towards the Asian and African regions.
Bank Negara governor Dr Zeti Akhtar Aziz today introduced Abbas as the first holder of INCEIF chair of Islamic finance.
Abbas joins INCEIF following a long and distinguished career as an economist and academician.
He will provide leadership in research and consultancy leadng towards seminal publications on Islamic finance, assist in academic research and supervise dissertations by INCEIF students.
He will also present lectures abroad on behalf of INCEIF as part of the efforts to promote the centre and its programmes. -- BERNAMA

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