| 10 Mar 2010 |
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Malaysia offers closer engagement as Islamic finance gains new ground
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Major Islamic finance providers from Malaysia will attend MSE 2010 to showcase their expertise banks and companies in the region
Dubai, 10 March 2010: Malaysia is inviting investors and institutions from the Middle East to use its comprehensive services platform to tap the growing interest in Islamic finance and target the burgeoning Asia-Pacific markets.
Major Malaysian banks and investment companies specialising in Islamic finance products will attend the third Malaysia Services Exhibition (MSE 2010), to be held in Dubai this year to showcase their expertise and network with potential business partners.
The three-day exhibition, organised by the Malaysia External Trade Development Corporation (MATRADE) will be held from the 13th to the 15th of April 2010 at the Dubai International Conventions & Exhibitions Centre.
Islamic finance has been growing at 15-20% annually and Moody's says the industry is worth $700 billion. Malaysia has over 30 years of experience in this sector, increasingly being seen as a sustainable alternative to conventional banking after emerging largely unscathed from the global economic meltdown.
"Islamic finance in Malaysia is characterised by a high level of flexibility and diversity as well as a world-class infrastructure, regulations and human resources. It is the best environment capable of leading the anticipated industry growth," said Dato Yahaya Abdul Jabar, the Ambassador of Malaysia to UAE.
Financial institutions and companies world over have been leveraging Malaysia's capabilities in the origination, distribution and trading of Islamic capital market products and treasury instruments such as sukuk, fund and wealth management, Islamic banking and takaful.
According to recent statistics revealed by Bloomberg, sukuk sales rose to $20.15 billion last year from $14.13 billion in 2008 and Malaysia accounted for about half of the global sukuk sales in 2009.
Malaysia is also home to the International Centre for Education in Islamic Finance, which offers certifications and courses leading up to PhD in order to ensure steady supply of talent for the global Islamic financial services industry.
Graduates and scholars from the Centre are already working as Shari'a experts in financial institutions worldwide, including in the GCC. Leading Islamic banks from the Middle East have also established their operations in Malaysia.
"We believe Malaysia and West Asia can complement each other and benefit from each other's strengths in Islamic finance. Malaysia is also a strategic destination for overseas businesses to tap the robust Asia Pacific market. MSE 2010 will be a useful platform to learn about such opportunities from industry representatives including senior officials from Bank Negara, the central bank of Malaysia," added Dato Yahaya.
The three-day exhibition will be attended by 150 establishments from Malaysia including 130 service providers, 12 professional associations and eight government agencies. The exhibition will also host a Malaysia Services Forum and extensive networking sessions between the participants and trade visitors.
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About MATRADE
The Malaysia External Trade Development Corporation (MATRADE) is the external trade promotion arm of the Ministry of International Trade and Industry (MITI). Its functions are:
· To promote, assist and develop Malaysia's external trade with particular emphasis on the export of manufactured and semi-manufactured products and services;
· To formulate and implement export marketing strategies and trade promotion activities to promote Malaysia's export;
· To undertake commercial intelligence and market research and create a comprehensive database of information for the improvement and development of Malaysia's trade;
· To organise training programmes to improve the international marketing skills of Malaysian exporters;
· To enhance and protect Malaysia's international trade investment abroad; and
· To promote, facilitate and assist in the services areas related to trade.
For further information on MSE 2010, visit www.malaysianservices.com or contact:
In GCC and surrounding countries
Mr. Ahmadur Rahman
Marketing Officer
MATRADE Dubai
GL: +971-4-335 5528
DL: +971-4-335 5538
Fax : +971-4-335-2220
Mr. Walid Abu Shaban
Communication officer
Media Hub International
Mob.: +971 50 6469751
Tel: +971 4 2972740
Fax: +971 4 2972741
In Malaysia
Mr. Jonathan Rao
Head of Corporate Communications
Malaysia External Trade Development Corporation
GL: 603- 6207-7077
DL: 603-6207 7402
Fax: 603-6203 7194
© Press Release 2010
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