MUSA CALLS ON FOREIGN ISLAMIC BANKS TO INVEST IN SABAH

KOTA KINABALU (Sabab, Malaysia), July 1 (Bernama) -- Sabah wants more
foreign Islamic banks, especially from the Middle East, to invest in the state,
said Chief Minister Musa Aman.

He said as the east Malaysian state continued to grow and prosper, it would
offer vast investment opportunities.

"Islamic banks from the Middle East would bring significant experience from
the Gulf region and share this with local financial institutions," he said at
the opening of Kuwait Finance House (M) Bhd's (KFH Malaysia) branch here Friday.

Also present was KFH Malaysia chief executive officer, Jamelah Jamaluddin.

Musa said Sabah has undergone major developments in recent years and put in
place business-friendly policies as well as various attractive incentives to
ensure competitive and conducive environment for both local and foreign
investors.

He said the state government appreciated KFH Malaysia's efforts in
bringing Islamic banking to the state and hoped that the setting up of its
branch here would herald the start of a long and fruitful relationship with the
people of Middle East.

"It is hoped that this will encourage more people to go for Syariah-based
banking products and services.

"Sabahans would benefit as there would be more opportunities and choices in
Islamic banking products and services," he said.

Musa said the diversity of products and services would help enrich the
state's financial markets and position Kota Kinabalu as a vibrant and growing
city, apart from encouraging new opportunities in other towns, especially
Sandakan and Tawau.
-- BERNAMA