Following the recent award of 4 Takaful licenses, Bank Negara Malaysia has announced yet again another move that hopes to attract investors from the Middle East.
Via theedgedaily.com>>
Bank Negara launched the first regular issue of Islamic leasing securities on Feb 9 in a bid to attract more investors and help turn the country into a global hub for Islamic finance.Bank Negara said its first sale of the Islamic debt securities based on the “ijarah” or leasing principle would be a RM400 million, one-year bond to be issued on Feb 16.
“Ijarah in itself is actually acceptable in the global Syariah standards and therefore by issuing the Bank Negara ijarah we will then strengthen our position as an international Islamic financial centre,” Norzila Abdul Aziz, head of financial-market development for the bank, told reporters. “We can then attract international investors to hold our securities.”
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