- Islamic finance offers significant potential for business alliances, Malaysia showcases incentives -

Dubai , 3rd Nov 2007: The Kuala Lumpur Business Club (KLBC), accompanied by prominent members of the Malaysian Islamic finance sector will arrive in UAE this week to meet with business leaders and government agencies across Dubai and Abu Dhabi. The primary objective of this business mission is to showcase Malaysia's innovative markets and products in Islamic finance, and encouraging investment, capital raising and cooperation with the Gulf region. The business delegation is led by KLBC President Dato' Dr. Munir Majid, Chairman of Malaysia Airlines.

Distinguished members of the Malaysian Islamic finance sector  include Dato' Zarinah Anwar, Chairman of the Securities Commission, and Dato' Mohd Razif Abdul Kadir, Deputy Governor of Bank Negara (the Central Bank of Malaysia), and Mr Ganen Sarvananthan Abdul Ghani, Executive Director and CEO of CIMB Islamic Bank Berhad.

Speaking on the importance of the GCC to Malaysian business, Dato' Munir said, "The UAE and Malaysia have unique economic and cultural synergies. The delegation will seek to learn and understand better economic development and planning in the region, which has seen outstanding progress. One of the areas of significant investment and business potential is Islamic finance."

As part of the visit, senior members of the delegation will speak at the concurrent investment conference, "Why Invest in Malaysia" scheduled for November 4th, at Dubai International Financial Centre. The conference is sponsored by Al Salam Bank.

Mr Yousif Taqi, Chief Executive Officer, Al Salam Bank Bahrain said, "As a progressive and dynamic institution, Al Salam Bank Bahrain is in constant pursuit of diverse opportunities that extend our global business reach. We evaluated various locations and believe that Malaysia offers a unique proposition with tempting incentives. Additionally Malaysia offers an economic climate that is both stable and progressive, while offering immense potential for further opportunity and development."

In the past ten years, Malaysia has experienced significant development in Islamic finance manifest by financial deepening, diversity of players, and broad range of Islamic financial products and services. Malaysia is in fact today recognized by the international financial community as a leading Islamic financial hub.

During the visit, the delegation will also meet with various UAE business and finance sector leaders to exchange ideas and review prospects and incentives of doing business in Malaysia.

This is not the first visit to the emirates led by KLBC  which has also led business tours across USA, Indonesia and Singapore, with significant success. Following various business engagements in Dubai, the KLBC business mission will proceed   to Abu Dhabi on November 5th.

-Ends-

Kuala Lumpur Business Club (KLBC)
KLBC is a networking, support and business development organisation for leadership among businessmen and professionals with the objective of driving the success of individual members, thereby contributing to the economic, social and political well-being of the business community. It is the goal of KLBC to maintain an environment of success for individual members through networking, support and development. It brings leaders in all types of business together to act as a powerful single voice. It is also envisaged to develop Malaysia's business intellectual capital, apart from developing businesses. It speaks for the business community whenever the government or regulators make decisions that crucially affect business and corporate strategies. Being an articulate and persuasive advocate for business viewpoints and a champion of corporate responsibility, it actively expresses views through proactive programmes including discussions, debates and forums. KLBC serves as an advocate and partner in helping businesses and business leaders in Kuala Lumpur and other parts of the nation build their future. It is the voice of Malaysian business champions to reinforce economic growth and corporate responsibility.

Media Contact:
Dato' Dr Mohd Munir Abd Majid
President - KLBC
Kuala Lumpur
Phone: 603 7844 9888               
Fax: 603 7845 6217                              
Email: chairman@malaysianairlines.com.my
Website: www.klbc.com.my

Sana Lababidi
Media Relations Manager
Tel :  04 3415558
Fax : 04 3415559
Email : sana@raeepr.com

© Press Release 2007