INDONESIA - EVENTS - High level conference - RAJA NAZRIN: Indonesian and Malaysian financial centers can look into products for lower income groups

JAKARTA, July 18 (Bernama) – The Indonesian and Malaysian Islamic financial centres can look into developing productive Syariah-based instruments such as micro-financing tools, incorporating Qardhul Hassan (or benevolent loans), Zakat and Sadaqah to channel financing to and facilitating the economic participation of the lower income groups, said the Raja Muda of Perak, Raja Dr Nazrin Shah. (source)

FINANCE - Use sovereign funds to invest in syariah-compliant products: Regent Read more: Use sovereign funds to invest in syariah-compliant products: Regent (Malaysia)

MUSLIM countries should allocate a fraction of their sovereign funds to financial institutions which have the expertise to invest in syariah-compliant investment funds and instruments.

Perak Regent Raja Dr Nazrin Shah said one of the driving forces for Islamic finance to prosper is for large investment organisations such as sovereign wealth funds of Muslim countries to take a developmental view when determining their asset allocations.