Malaysia (IBFIM), which has helped the noprtheastern Chinese city of Shenyang set up an Islamic finance centre, expects some positive development next week when the mayor of Shenyang and governor of Shenhe wisit Malaysia on Nov 8.
IBFIM chief executive officer Dr Adnan Alias, who disclosed this here Tuesday, said: "I am not sure what they want as we have fulfilled our role as advisers for the physical development for the project.
"Since we have completed our part, maybe they are coming here to negotiate what are our next role will be. I really don't know," he told reporters after the signing of a memorandum of agreement between IBFIM and the Maldives Islamic Bank.
On Jan 29 this year, the Liaoning Province Authority signed a memorandum of collaboration with its Malaysian partners, IBFIM, and the Kuala Lumpur Chinese Assembly Hall (KLCAH), under which IBFIM, through the KLCAH, would provide Shenyang with syariah advisory and consultancy services as well as training in Islamic banking and finance.
China, the world's new economic powerhouse and one of the fastest-growing economies, has set its sights on Islamic banking and finance. It plans to woo Islamic banking and finance institutions to the country by establishing an Islamic finance hub.
Shenyang, capital of Liaoning and the largest city in north east China, has started the ball rolling by seeking Malaysia's expertise in Islamic banking and finance to help establish
an Islamic finance centre.