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)
Showing posts with label masterplan. Show all posts
Showing posts with label masterplan. Show all posts
Monday, June 25, 2012
Thursday, June 21, 2012
MALAYSIA - CAPITAL MARKETS - Malaysia revises Shari’ah screening methodology
www.cpifinancial.net - The Shari’ah Advisory Council (SAC) of the Securities Commission Malaysia (SC) has announced the adoption of a revised screening methodology to determine the Shari’ah-compliant status of listed companies.
In view of the developments and growing sophistication of the Islamic finance industry since the introduction of the current screening methodology in 1995, the SAC has revised the methodology by adopting a two-tier quantitative approach which applies the business activity benchmarks and the newly-introduced financial ratio benchmarks. The outcome of the revised methodology will be reflected in the List of Shari’ah-compliant Securities by the SC's SAC effective from November 2013. (source)
In view of the developments and growing sophistication of the Islamic finance industry since the introduction of the current screening methodology in 1995, the SAC has revised the methodology by adopting a two-tier quantitative approach which applies the business activity benchmarks and the newly-introduced financial ratio benchmarks. The outcome of the revised methodology will be reflected in the List of Shari’ah-compliant Securities by the SC's SAC effective from November 2013. (source)
Monday, September 26, 2011
MALAYSIA - CAPITAL MARKETS - Sukuk market set to break 1 trillion-ringgit barrier in Malaysia
The total Malaysian Islamic capital market (ICM) is projected
to reach almost three trillion ringgit, RM2.88 trillion to be precise,
in the year 2020, with the sukuk market set to break the one
trillion-ringgit barrier to account for RM1.33 trillion worth of
issuances and the market capitalization of Shariah-compliant companies
accounting for RM1.55 trillion. (source)
Tuesday, July 19, 2011
INDONESIA - EVENTS - High level conference : Malaysia to Award Islamic ‘Mega-Bank’ License in Third Quarter
Malaysia will issue a license for an Islamic “mega bank” in the third quarter of this year to help mobilize funds for businesses around the world, the country’s central bank governor said.
The Southeast Asian nation will also start a cross-border clearance platform for Shariah-compliant bonds, or sukuk, around the same time, Bank Negara Malaysia Governor Zeti Akhtar Aziz said in an interview in Jakarta yesterday. The initiatives are part of a plan to help fill gaps in the $1 trillion global Islamic finance industry. (source)
INDONESIA - EVENTS - High level conference - RAJA NAZRIN: Indonesian and Malaysian financial centers can look into products for lower income groups
Wednesday, July 13, 2011
MALAYSIA - CAPITAL MARKETS - SC revises Guidelines for corporate bonds, trust deeds and sukuk
The Securities Commission Malaysia (SC) today issued the revised Private Debt Securities (PDS) Guidelines, Sukuk Guidelines and Trust Deed Guidelines to enhance the regulatory framework for fundraising and product regulation in the Private Debt Securities and Sukuk markets.
The revised Sukuk Guidelines streamline the approval process and time-to-market for the issuance of corporate bonds and sukuk. The revisions also facilitate a more informed investment decision-making process with additional provisions to ensure greater disclosure of relevant information to investors.
The revised Sukuk Guidelines provide greater clarity on the application of Shariah rulings and principles endorsed by the SC�s Shariah Advisory Council in relation to Sukuk transactions while the Trust Deed Guidelines improves disclosure standards and protection for corporate bond and sukuk holders.
Malaysia is currently the largest sukuk market in the world, accounting for about 65% of the global issues, while the bond market is the 3rd largest as a percentage to GDP in Asia (ex-Japan). The revised Guidelines will help Malaysia maintain its leading position by continuously attracting both local and international issuers and investors into the corporate bond and sukuk markets.
The revised Private Debt Securities Guidelines, Sukuk Guidelines and Trust Deed Guidelines will supersede the Guidelines on the Offering of Private Debt Securities, Guidelines on the Offering of Islamic Securities, Guidelines on the Minimum Contents Requirements for Trust Deeds and all the related Practice Notes respectively. (source -Download Sukuk Guidelines - Trust Deeds - Private Debt Securities)
Wednesday, April 13, 2011
CAPITAL MARKETS - MALAYSIA - M'sia's capital markets to double to S$1.9 trillion by 2020: Najib
"With greater internationalisation, this figure could increase to as much as RM5.8 trillion over the same period," Mr Najib said in his keynote address at the Invest Malaysia conference, an annual gathering of Malaysia's top corporate leaders. (full story)
SPEECH - Speech by YBhg Tan Sri Zarinah Anwar Chairman, Securities Commission Malaysia at the Launch of Capital Market Masterplan 2 - April 12, 2011
Speech by
YBhg Tan Sri Zarinah Anwar
Chairman, Securities Commission Malaysia
Chairman, Securities Commission Malaysia
at the
Launch of Capital Market Masterplan 2
12 April 2011
Shangri-La Hotel, Kuala Lumpur
12 April 2011
Shangri-La Hotel, Kuala Lumpur
Ladies and Gentlemen,
The launch of CMP2 is a significant milestone in the development of the capital market of Malaysia. It marks the successful implementation of the first Capital Market Masterplan where 95% of the 152 recommendations were completed. CMP1 has been a remarkably prescient document that continues to retain relevance even after a decade and has been used by many countries as a model plan for the development of their own capital markets. (full story)
PUBLICATIONS - MALAYSIA SECCOM - Masterplan 2
"In order to further facilitate internationalisation of the ICM, the SC will promote a shift from a Shariah-compliant approach to a Shariah-based approach where the underlying structures of products such as mudharabah and musharakah would originate from risk-sharing principles and offer significantly different pricing and returns characteristics.
There is a need therefore to focus on product innovation and development efforts that will provide a comprehensive array of Shariah-based products for the industry. Towards this end, there will be further development of the Shariah legal, regulatory and governance framework."
Download the Masterplan 2
Presentation Slides
(full story)Friday, March 25, 2011
REGULATIONS - MALAYSIA - MIFC - June launch likely for 2nd phase of masterplan
KUALA LUMPUR: The second phase of the financial services masterplan, primarily aimed at measures to support a high-value economy, will likely be launched in June.
“We want to enhance the capacity of the financial system to best serve a high-value, high-income society.
“The measures will cover banking, insurance, money and foreign markets as well as Islamic finance,'' said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz at a press conference to launch the Bank Negara annual report 2010 yesterday.
“We want to develop a vibrant international Islamic financial centre with vibrant linkages with the region and the world,'' she added. “We also want Malaysia to be a centre for thought leadership in Islamic finance.'' (full story)
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