Malaysia delegation to strengthen Islamic finance ties with UAE
- United Arab Emirates: Sunday, April 25 - 2010 at 13:33
- PRESS RELEASE
A high-level Malaysian delegation headed by H R H Raja Dr. Nazrin Shah Ibni Sultan Azlan Muhibbuddin Shah, Crown Prince of Perak Darul Ridzuan, is visiting the UAE from April 26 to 28 to promote business and investment opportunities in Islamic Finance in Malaysia, acknowledged globally for its highly-developed and diversified Islamic banking and financial market.
A luncheon event will take place at InterContinental Hotel in Abu Dhabi on April 27 in the presence of representatives from banking, financial and investment institutions in addition to envoys and other government officials where H R H Raja Dr. Nazrin Shah will deliver his keynote address.
During the visit, H R H Raja Dr. Nazrin Shah, who is also the Financial Ambassador of Malaysia International Islamic Financial Centre (MIFC), will call on His Highness General Sheikh Mohammed bin Zayed bin Sultan Al Nahyan, Crown Prince of Abu Dhabi, to discuss bilateral issues and investment opportunities in both countries.
The Malaysia International Islamic Financial Centre (MIFC) Road Show, being organized by the Central Bank of Malaysia, will take place in Abu Dhabi from April 26 to 28, during which the delegation will hold discussions with key organizations in Abu Dhabi such as Mubadala Development Corporation and Abu Dhabi Investment Authority (ADIA), which manages the world's biggest sovereign wealth fund, and also InvestAD. On the sideline programme, The Central Bank of Malaysia is also meeting with the Central Bank of UAE and the Abu Dhabi Islamic Bank.
According to Dato Yahaya Abdul Jabar, Ambassador of Malaysia to the UAE, said the UAE visit is part of the Gulf tour by the Malaysian delegation which includes top management representatives of Islamic banking institutions, Islamic fund managers, takaful operator and professional services firms, among others. MIFC is an initiative to position Malaysia as a hub for Islamic finance.
According to Malaysian officials, Islamic finance has been becoming main stream and offers viable solution to the global financial system. There has been emerging interest from key financial centres - London, Hong Kong and France.
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