Development of Islamic finance critical to Malaysia’s success: PM Abdullah Ahmad Badawi

Development of Islamic finance critical to Malaysia’s success: PM Abdullah Ahmad Badawi

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At the opening dinner of the Bank Negara’s 50th anniversary conference in Kuala Lumpur in February, Malaysian prime minister Datuk Seri Abdullah Ahmad Badawi told the audience of visiting central bankers and economists that the development of Islamic finance will be critical to the country’s future success.

The prime minister stressed the importance of Islamic finance as an alternative channel for intermediation and its competitiveness in terms of products and services. He was also keen to point out that Malaysia intends to leverage its experience in the sector as it continues to build the country as a regional – or even global – hub.

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