FRANCE SEEKS MALAYSIA'S EXPERTISE TO DEVELOP ISLAMIC FINANCE

KUALA LUMPUR, Nov 12 (Bernama) -- France is seeking Malaysia's expertise to
develop its Islamic finance system, its Economy, Industry and Work Minister
Christene Lagarde said Thursday.

"Malaysia is a big Islamic finance hub," she said at a press conference here
before a meeting with Bank Negara Malaysia's governor Dr Zeti Akhtar Aziz.

"In Europe, London is currently the dominant centre of Islamic finance. And
I am interested to explore how and what are the conditions and circumstances for
France to develop Islamic finance capabilities," she told reporters.

Lagarde, now in the federal capital for the third time, said France had
already modified its tax regime as well as some of it legal provisions
concerning the availability of trust in the country' financial institutions.

"I want to explore whether that is efficient and what else we should do and
what is acceptable in our system," she said.

Lagarde also said that France would seek the central bank governor's advice
in relation to Islamic finance which Malaysia excelled.

She said that France hoped to be able to develop such expertise.
-- BERNAMA