MALAYSIA EXCHANGE, BAHRAIN FINANCIAL EXCHANGE IN COLLABORATION TALKS

KUALA LUMPUR, Jan 25 (Bernama) -- Malaysia Exchange Bhd (Bursa Malaysia Bhd)
and Bahrain Financial Exchange (BFX) have inked a Memorandum of Understanding
(MoU) to develop a commercial agreement on Islamic financial products and
strengthen bilateral ties.

The MoU also involves a feasibility study to identify products and market
channels based on an already completed needs assessment for this market.

It lays the foundation for both exchanges to jointly work on increasing
awareness on investment opportunities in the respective Islamic markets as well
as assist each other in further developing the Islamic investment framework
across multiple geographies.

Malaysia Exchange Chief Executive Officer Yusli Mohamed Yusoff who
signed the MoU on behalf of the Malaysian exchange Sunday, said the
collaboration with BFX was aimed at facilitating cross border development in the
Islamic financial markets, widening market reach, exchanging technological
expertise and building a sustainable business model for both exchanges.

"This is a major step towards consolidation in the Islamic finance world.

"As Malaysia and the Middle East are the leading centres of Islamic finance,
and as both exchanges come together on a single platform, this will add to the
strength of this industry.

"This initiative will go a long way in addressing the issues of
standardisation, innovation and transparency thus providing a new dimension to
the Islamic finance market," he said in a statement.

BFX Board Director Arshad Khan said the initiative was a major development
for the Islamic finance as the collaboration would seek to offer a wider risk
management portfolio to global Islamic practitioners.

"By partnering with Bursa Malaysia we can ensure that the products offered
are well defined, robust and fully Shariah compliant and I am honored that we
have been able to work with such a well respected global business.

"I speak on behalf of all at the BFX in that we are extremely excited to
commence in this project which reinforces our commitment to the Islamic market,"
he added.

The signing ceremony was witnessed Central Malaysia Deputy Governor
Razif Abdul Kadir, Securities Commission Malaysia Managing Director Dr Nik
Ramlah Nik Mahmud and Central Bank of Bahrain's Financial Institutions
Supervision Executive Director Abdul Rahman Al Baker.

-- BERNAMA