DEVELOP OTHER PREMIUM ISLAMIC FINANCIAL PRODUCTS & SERVICES

KUALA LUMPUR, Oct 4 (Bernama) -- Although Malaysia has done very well in the
sukuk market, it has to seriously develop its capacity in other products and
services that would command greater premiums not only within the domestic market
but also in the foreign Islamic financial markets.

In making the call, Second Finance Minister Ahmad Husni Mohamad Hanadzlah
said it was therefore a national duty for domestic institutions to champion this
cause to their highest possible capability and take the industry to the highest
level.

Malaysia's brand name in the field of Islamic finance is well-established
and the domestic institutions must capitalise on this strong platform, but it
has to do more, he said in his speech at the Khazanah's Megatrend Forum 2010
here Monday.

For instance, he highlighted how asset management was a critical component
to further secure the country's position as a premier international Islamic
financial centre.

The expansion of a syariah-compliant asset management industry will give
impact and add value across the financial services sector, he said.

"The asset management industry can directly support as well as complement a
number of sectors including the takaful industry, private equity, mutual funds,
private wealth management, trust and wakaf," he said.

He also cited Tabung Haji -- one of the world's first Islamic fund
management institution, which should expand its capability to partner with
foreign brand names, if it must.