MDV, AIFC To Strengthen Islamic And Green Financing Ecosystem

KUALA LUMPUR, July 20 (Bernama) -- Malaysia Debt Ventures Bhd (MDV) has inked a Memorandum of Understanding (MoU) with Astana International Financial Centre Authority (AIFC) to strengthen mutual efforts to enhance the Islamic and green finance ecosystem of both companies and countries. The MoU, signed during the Islamic Green Financing Week at the Malaysia Pavilion Astana Expo 2017 in Astana, Kazakhstan, would also foster the development and sharing of best practices, expertise and knowledge in the field of Islamic and green finance. "With this understanding, we are able to develop and promote Islamic and green finance markets via MDV and AIFC’s platforms to encourage and enhance the depth of both markets’ functions and competitiveness,” MDV Managing Director and Chief Executive Officer Md Zubir Ansori Yahaya said in a statement here, Wednesday. The affiliation would provide the required financing infrastructure to Kazakhstan’s existing financial ecosystem, and facilitate the transition of Kazakhstan corporations into the green and sustainable economic development, he added. The AIFC, which regulates the legal relationships between AIFC participants and third parties, is focused on developing the financial market in the areas of capital markets, asset management, islamic finance, fintech, private banking and green finance. In this respect, the AIFC would assist MDV, which is a wholly-owned subsidiary of the Minister of Finance Inc, to implement Islamic and green financing transactions to complement the company’s existing financial products and services. -- BERNAMA