Oct 19, 2001, 12:01 AM
News Code: 9032349
0 Persons
Malaysia in player major a banking Islamic make to Masterplan Malaysia in system financial Islamic --The IRNA 19, Oct Lumpur, Kuala towards taken measures with progress, significant make to continues .centre insurance and banking Islamic regional a as Malaysia promoting that envisioned is it Masterplan, Sector Financial the Under to strengthened be would industry takaful the and banking Islamic system banking overall the of share market percent 20 least at capture Ministry Finance to according 2010, by industry insurance and . Friday on released report economic 2002/2001 highly and strong of number a by represented be should it Also, and operators, takaful and institutions banking Islamic capitalised financial Islamic of range complete and comprehensive a provide .services and products the in outlined strategies and recommendations Specific :areas main three on focus to formulated been have masterplan and development infrastructure enhancement, capacity institutional .development framework regulatory to measures involve would enhancement capacity Institutional the among be to players industry takaful and banking Islamic prepare unique the on capitalising of capable , institutions best-managed .edge competitive achieve to takaful and banking Islamic of features regulatory and legal Syariah, conducive and comprehensive A .development their underpin would framework, the in envisaged recommendations the of implementation The .phases three in undertaken be would masterplan platform viable a prepare to be would focus the one, phase Under .takaful and banking Islamic of expansion sound the for industry domestic qualified to issued be would licences New under phase, next the in competition increased stimulate to players .said report the upgraded, further be would infrastructure which banking Islamic of issuance the involve would three Phase comprehensive a while players, banking foreign qualified to licences a in operations support to developed is infrastructure effective and .environment liberalised more Islamic the develop further to undertaken be to measures Among Financial Islamic International an of formation the is system banking .(IIFM) Market Offshore Labuan the end, this toward said ministry Finance The Islamic the with together ,(LOFSA) Authority Services Financial and Sudan Bahrain, of banks central the and (IDB) Bank Development .IIFM develop to understanding of memorandum a signed have Indonesia, Services Financial Islamic an of establishment the Also, currently is host, to offered has Malaysia which ,(IFSO) Organisation .banks central Islamic several by pursued being regulatory issuing and formulating with entrusted be would so If" the around institutions financial Islamic for standards prudential and said it "world, the -- products new three of introduction the is measure Another negotiable Islamic revised the financing, rate floating Islamic -- Al-Bai Thumma Al-Ijarah the under leasing Islamic and instruments, .concept conventional to alternative important an as said report The in sector banking Islamic the system, financial the in banking .year this expand to continued Malaysia Muamalat Bank and Bhd Islam Bank banks, Islamic two are There banking Islamic offer institutions financial 35 while Malaysia, .Scheme Banking Islamic the under services end as percent 3.7 to rose banking Islamic of share market The and deposits while year, last percent 9.6 from year this July of .respectively percent, 2.6 and cent per 3.8 constitute financing expand, to continued system banking Islamic the of assets Total year, this of months seven first the during percent 2.3 by increasing .deposits in increase cent per 10 the with tandem in .percent 3.20 by rose, also extended financing Similarly, the to channelled was financing the of proportion major A followed percent, 3.21 a for accounting sector, property residential manufacturing the and percent 4.19 with sector transportation the by .percent 7.11 with sector to moderated had market money interbank Islamic the in Trading" first the in (billion 97.US$5) billion 7.RM22 of average monthly a billion 152.RM25 of average monthly a with compared months, seven .concluded ministry finance the "year, last (billion 62.US$6) BN/JB End