MALAYSIA - BANKING - Malaysia May Liberalize Banking Sector

www.thejakartaglobe.com - Malaysia, the third-biggest economy in Southeast Asia, is considering opening up its banking system to foreign investors, a move seen by analysts as part of the country’s efforts to expedite integration into the so-called Asean Community in 2015.

Zeti Akhtar Aziz, governor of Bank Negara Malaysia, that nation’s central bank, said the country was preparing new banking rules to provide greater flexibility in the nation’s financial system.

“We are now pushing a new law in parliament for the full financial system,” Zeti said after delivering a keynote speech at the Wharton Global Alumni Forum in Jakarta on Friday. “We’re not sure when it will go, either this time or next time. Next time [may mean] in September. But that law will give us more flexibility in the licensing,” she said.   (source)

MALAYSIA - BANKING - Governor\'s Speech at the Launch of the Financial Sector Blueprint at Sasana Kijang : \"Strengthening Our Future\"

Speaker : Governor Dr. Zeti Akhtar Aziz Venue : Sasana Kijang, Kuala Lumpur Date : 21 December 2011 Language : English

It is my great honour to welcome you to Sasana Kijang for the launch of Bank Negara Malaysia's Financial Sector Blueprint. On behalf of Bank Negara Malaysia and the financial services industry, Yang Amat Berhormat Dato' Sri, I wish to express our appreciation to you for your presence here this afternoon to launch the Financial Sector Blueprint. This Blueprint marks a new phase in the development of the financial system. It focuses on new areas that will strengthen the competitiveness and efficiency of the financial sector and its potential role in facilitating our ongoing economic transformation and greater regional economic and financial integration and thus to enhance Malaysia's long term economic growth potential.  (source)

MALAYSIA - SPEECH - Governor's Keynote Address at the Islamic Financial Intelligence Summit (IFIS) 2011- "The New Islamic Finance Landscape"

This speech refers to the IFSB-IDB Task Force of Islamic Finance and Global Financial Stability Report (April 2010) that can be accessed here. 

This decade has witnessed dramatic changes in the Islamic financial landscape. As a dynamic industry, Islamic finance is responding to the forces of change emanating from the changing requirements of the real economy, the changing pattern and pace of globalisation and the wide spread financial reforms being undertaken at both the international and national levels.  This transformation of the Islamic financial system is also taking place during the most challenging of times as the world enters the fifth year of the global financial crisis. A central aspect of the new Islamic financial landscape is also the increased focus on financial stability to enhance further its potential as a form of financial intermediation in an increasingly more challenging environment.  (source)

INDONESIA - EVENTS - conference on Islamic Finance entitled “Enhancing Financial Linkages towards Economic Prosperity” to be held in Jakarta, Indonesia on18 July 2011

Bank Negara Malaysia and Bank Indonesia
Joint Conference on Islamic Finance, 18-19 July 2011, Jakarta

Bank Negara Malaysia (BNM) and Bank Indonesia (BI) is organising a joint conference on Islamic Finance entitled “Enhancing Financial Linkages towards Economic Prosperity” to be held in Jakarta, Indonesia on18 July 2011 at Shangri-La Hotel. HRH Raja Nazrin Shah, the MIFC Financial Ambassador; Dr. Zeti Akhtar Aziz, Governor, BNM; Darmin Nasution, Governor, BI and industry leaders in the financial sectors of both countries will be speaking at the event. The conference acts as a discussion platform to explore opportunities to further enhance two-way investments between Indonesia and Malaysia; and towards strengthening linkages between its Islamic financial markets.

In conjunction with the conference, three workshops will take place on 19 July 2011. These workshops discuss opportunities for strengthening cross-border liquidity management, product development and innovation; and creating an enabling environment for Islamic finance.

To download the event agenda, click Here

To download the registration form, click Here
Deadline for registration is Thursday, 14 July 2011

EDUCATION - Public Lecture - Prof. Dr. Hassanudeen Abd. Aziz (IIUM Malaysia) - General Lecture “Derivative Instrument from Islamic Finance Perspective” (May 12, 2011 - Bandung)

Date: Thursday, May 12, 2011

Time: 9.30 a.m. – 12.00 a.m.

Place: B1 Multimedia Hall FE Unpad Jln. Dipati Ukur No. 35 Bandung - Universitas Padjadjaran

Monetary derivative instrument that has been popular in conventional finances seems to be at the crossroads in Islamic monetary. There is minimum coherence to what should be the right place for the derivative instrument in Islamic monetary.

In accordance with that, Management Laboratory of the Faculty of Economy Unpad, collaborating with Center for Studies of Islamic Economy and Business (PSEBI) FE Unpad, presents general lecture entitled “Derivative Instrument from Islamic Finance Perspective” with Prof. Dr. Hassanudeen Abd. Aziz from International Islamic University Malaysia. This event will be held on Thursday (05/12), at Multimedia Hall B1, FE Unpad, Jl. Dipati Ukur No. 35, Bandung and is open for public.

Source 

MALAYSIA - Labuan IBFC banking posts record pre-tax

KUALA LUMPUR: The Labuan International Business and Financial Centre's (Labuan IBFC) banking sector posted a record pre-tax profit for the financial year ended December 31 2010, it was disclosed yesterday.

The Labuan banking industry recorded its best ever performance in terms of pre-tax profits, which increased by 114.8 per cent to US$536.4 million (RM1.6 billion), compared with US$249.7 million (RM749 million) in 2009, said Bank Negara governor and Labuan Financial Services Authority (Labuan FSA) chairman Tan Sri Dr Zeti Akhtar Aziz. (full story)

BANKING - Islamic finance can make its mark globally

Chairman: Indonesia should be involved in mega project

KUALA LUMPUR: With Malaysia being the centre of Islamic finance in the world, the formation of a mega Islamic bank is an opportunity for Malaysia to make its mark globally.

Indonesia should also be involved in the formation of this mega Islamic bank in Malaysia, as there cannot be a mega Islamic bank without involving a mega Islamic country,” said Indonesian Islamic Banking Association (ASBISINDO) chairman and CIMB Islamic Bank Bhd independent non-executive director Dr A. Riawan Amin.


On Tuesday, Tan Sri Datuk Dr Zeti Akhtar Aziz said that Bank Negara would announce one mega bank this year, under its plan to issue up to two mega Islamic banking licenses.

Dr A. Riawan Amin ... ‘In time, the world will embrace the values of Islamic finance as the norm.’

FINANCE - IILM - BNM’s Islamic liquidity plan

KUALA LUMPUR: Bank Negara Malaysia (BNM)’s International Islamic Liquidity Management Corp (IILM) will issue short-term papers as part of efforts to enhance cross-border flows.

According to BNM governor Tan Sri Dr Zeti Akhtar Aziz, the short-term papers will be issued in international reserve currencies, such as the US dollar and the euro.

BANKING - 'Mega-Islamic bank' licence by 2011

Malaysia is expected to issue one “mega-Islamic bank” license by the end of the year, central bank Governor Tan Sri Dr Zeti Akhtar Aziz told reporters in Kuala Lumpur today. -- Bloomberg

FINANCE - Liquidity management - Islamic finance boost via IILM: Zeti

The establishment of the International Islamic Liquidity Management Corp (IILM) will further enhance the capacity of Islamic finance in facilitating efficient cross-border flows, Bank Negara Malaysia (BNM) Governor, Tan Sri Dr Zeti Akhtar Aziz, said today.

FINANCE - Shariah Money Markets Expand With Global Bills: Islamic Finance

Oct. 12 (Bloomberg) -- The first global Shariah-compliant money-market securities may be sold early next year, providing Islamic banks with more opportunities to invest reserves and boost profits.

SUKUK - IDB to list US$3.5bil sukuk bonds in KL and London

KUALA LUMPUR: The Islamic Development Bank (IDB) will dual list US$3.5bil of its sukuk bonds in Kuala Lumpur and London by the year-end.

Of this amount, US$1.1bil has already been issued to investors. About US$1bil will be issued by year end, in tranches of five, seven and 10 years.

Finance vice president Dr Abdul Aziz Al-Hinai said one of IDB’s responsibilities was to help members of the Organisation of Islamic Conference grow and develop.