Ahlul Bayt News Agency (ABNA.ir), The sustained expansion of the global growth in Islamic finance has drawn significant international interest, not only from Muslim countries but also from non-Muslim communities.
This was stated by Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz in a speech read out by Deputy Governor Datuk Mohd Razif Abd Kadir at the Malaysia Showcase Dinner in Bahrain’s capital Manama on Monday.
She said Islamic finance continued to demonstrate its resilience against the background of the current challenging international financial environment, Bernama wrote.
“Financial centers such as London, France, Hong Kong and Singapore are increasing their efforts to enhance the development of Islamic finance in their financial centers,” she said. The event is being held in conjunction with the Seventh Islamic Financial Services Board (IFSB) Summit that opens on Wednesday.
Zeti said the internationalization of Islamic finance also observed the strengthening of ties between Asia and the Middle East in trade and investments in recent years.
“The emergence of new financial centers in Asia and the Middle East, and their increased integration, have strengthened the foundations for a New Silk Road,” she said.
The Malaysian central bank governor said it has also extended this potential to forge stronger financial linkages with the growth regions of Asia and the Middle East.
The Islamic Development Bank, for example, has collaborated with IFSB and formed two taskforces--the Taskforce on Islamic Finance and Global Financial Stability and the High-Level Taskforce on Liquidity Management.
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