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Malaysia maintains pole position in global Islamic capital market

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Malaysia's Islamic capital market is valued at RM1.88 trillion at the end of 2018, constituting 61% of the local capital market.

Malaysia is also the largest sukuk issuer in the world, says Deputy Finance Minister Amiruddin Hamzah.

PETALING JAYA: Malaysia maintained its position as global leader in the Islamic capital market valued at RM1.88 trillion at the end of 2018, which constitutes 61% of the local capital market.Deputy Finance Minister Amiruddin Hamzah said that last year, a total of RM882.30 million green bonds and sukuk were issued through the Malaysian capital market for environmental benefits.

Speaking at the 44th Islamic Development Bank board of governors’ annual meeting in Morocco recently, he said Bank Negara Malaysia had also issued a strategy paper on value-based intermediation, which underlined strategies to strengthen the roles and impact of Islamic banks towards a sustainable financial ecosystem.

“It is our sincere desire that Malaysia’s experience will be an encouragement to our fellow member countries as we work together to transform and build our respective economies,” he said. The Islamic Development Bank group comprises 57 countries, including Saudi Arabia, Libya, Iran, Nigeria, United Arab Emirates, Qatar, Egypt, Kuwait, Pakistan, Indonesia, Malaysia, Brunei and Kazakhstan.

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