ID :
119265
Thu, 04/29/2010 - 08:03
Auther :
Shortlink :
https://oananews.org//node/119265
The shortlink copeid
MSIAN & UK ISLAMIC BANKS AGREE ON MORE CROSS-BORDER LIQUIDITY MANAGEMENT DEALS
KUALA LUMPUR, April 28 (Bernama) -- Malaysian and UK Islamic banks have agreed to undertake greater collaboration in cross-border Islamic liquidity management transactions.
The decision was made at the end of the Malaysian-UK Islamic Treasurers
Workshop, held at the Westminster Conference Centre in London on April 12-13.
The workshop, aimed at encouraging greater interaction between and
harmonising business practices of Malaysian and UK Islamic banks, was attended
by over 40 senior treasury officials of both countries.
The workshop was hosted by the UK Trade & Investment (UKTI), a government
agency responsible for promoting international business.
In February last year, Bank Negara Malaysia and the UKTI signed a
memorandum of understanding to promote the development of Islamic finance in
both countries.
The workshop was part of a four-day business visit to London by a Malaysian
delegation led by Zaimah Zakaria, Group Treasurer of RHB Banking Group.
She said the business visit is part of the continuous efforts by Islamic
banks in Malaysia to link Kuala Lumpur with other major international financial
hubs.
"Before London, Malaysian Islamic banks organised similar business
visits to Hong Kong and Jakarta," she added, in a statement here today.
The visit was supported by Malaysia's central bank Bank Negara Malaysia and
facilitated by the Association of Islamic Banking Institutions Malaysia (AIBIM).
Besides the workshop, the Malaysian delegation had six meetings with senior
business leaders of major British financial institutions and UK-based Islamic
banks.
The meetings were to explore business opportunities and form potential
alliances in tapping the huge business potential across Asia and the Middle
East.
The delegation also met Sir Andrew Cahn, Chief Executive of UKTI and the
UK's regulatory body, the Financial Services Authority (FSA).
In addition to these discussions, the delegation also held talks with the
British Bankers Association (BBA) to look into the possibility of developing an
international benchmark rate for Islamic finance.
Malaysian bankers and their UK counterparts are confident that cross-border
business activities between Islamic banks in both countries, would be further
enhanced as a result of the visit.
-- BERNAMA
The decision was made at the end of the Malaysian-UK Islamic Treasurers
Workshop, held at the Westminster Conference Centre in London on April 12-13.
The workshop, aimed at encouraging greater interaction between and
harmonising business practices of Malaysian and UK Islamic banks, was attended
by over 40 senior treasury officials of both countries.
The workshop was hosted by the UK Trade & Investment (UKTI), a government
agency responsible for promoting international business.
In February last year, Bank Negara Malaysia and the UKTI signed a
memorandum of understanding to promote the development of Islamic finance in
both countries.
The workshop was part of a four-day business visit to London by a Malaysian
delegation led by Zaimah Zakaria, Group Treasurer of RHB Banking Group.
She said the business visit is part of the continuous efforts by Islamic
banks in Malaysia to link Kuala Lumpur with other major international financial
hubs.
"Before London, Malaysian Islamic banks organised similar business
visits to Hong Kong and Jakarta," she added, in a statement here today.
The visit was supported by Malaysia's central bank Bank Negara Malaysia and
facilitated by the Association of Islamic Banking Institutions Malaysia (AIBIM).
Besides the workshop, the Malaysian delegation had six meetings with senior
business leaders of major British financial institutions and UK-based Islamic
banks.
The meetings were to explore business opportunities and form potential
alliances in tapping the huge business potential across Asia and the Middle
East.
The delegation also met Sir Andrew Cahn, Chief Executive of UKTI and the
UK's regulatory body, the Financial Services Authority (FSA).
In addition to these discussions, the delegation also held talks with the
British Bankers Association (BBA) to look into the possibility of developing an
international benchmark rate for Islamic finance.
Malaysian bankers and their UK counterparts are confident that cross-border
business activities between Islamic banks in both countries, would be further
enhanced as a result of the visit.
-- BERNAMA
