BANKING - AIBIM Malaysia and TKBB Turkey sign MoU

2012 May 30 Aibim Tkbb Mou

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

Programme MCS - Foreign

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

MIFC Business Roundtables_revised

EVENTS - IFSB SUMMIT ISTANBUL - Invitation to the Malaysia Country Showcase & Business Roundtables 15 May 2012, Istanbul, Turkey

Invitation to the Malaysia Country Showcase

& Business Roundtables

15 May 2012, Istanbul, Turkey

Bank Negara Malaysia (the Central Bank of Malaysia) will be organizing the Malaysia Country Showcase (Showcase) on 15 May 2012 at Swissotel The Bosphorus, Istanbul, Turkey. The Showcase is held in conjunction with the 9 th Islamic Financial Services Board Summit and organised in support of the Malaysia International Islamic Financial Centre (MIFC) initiative.

Themed “Promoting greater financial and economic linkages in Islamic finance”, the Showcase business panel session will discuss current issues and developments in global Islamic finance. Approximately 150 participants
comprising leaders of the financial and business communities are expected to attend the Showcase.

In addition to the Showcase event, three parallel Business Roundtable sessions will be organized separately by the Securities Commission of Malaysia, the Association of Islamic Banking Institutions Malaysia and the
Bond Pricing Agency Malaysia. The objectives of the Roundtables are to further enhance collaboration and linkages between Malaysia and other global economies, in particular Turkey, and to highlight the Malaysian
financial community’s capabilities in offering Islamic financial products and services to the global community.

In this regard, Bank Negara Malaysia is pleased to invite you and your representative(s) to participate in the Showcase and Business Roundtables. You may also wish to invite your clients and representatives from your
group entities to participate in our event. We would appreciate if your good office could confirm your participation and other representatives in the Showcase to

Mr. Noor Fikri Mohd Fadhil at +603 9179 2236/ fikri@bnm.gov.my or
Ms Norhasmiza Haimid at +603 9179 2226/ norhasmi@bnm.gov.my

by 18 April 2012, providing name, designation, telephone and email address.

For participation to attend the Business Roundtables, please contact the relevant officers as stated in the respective programmes. Attached, the programmes for the Malaysia Country Showcase and Business Roundtables for your reference.

Thank you and regards,

MIFC Promotions Unit
Bank Negara Malaysia
Kuala Lumpur, Malaysia

TRADE - OIC - PTA - Turkey Expects Bilateral Trade With Malaysia To Increase To US$2 Billion

www.bernama.com - KUALA LUMPUR, Feb 14 (Bernama) -- Turkey expects its bilateral trade with Malaysia to increase to US$2 billion this year from US$1.75 billion last year, driven by the huge potential in the construction sector and the signing of the free trade agreement (FTA) expected by mid-year.

Commercial counsellor of Turkish Embassy here, Hasan Onal, said from the total, imports from Malaysia were expected to be US$1.8 billion while exports to Malaysia US$225 million.  (source)

FDI - FINANCE - Khazanah buys Turkish group for RM5.32b

Khazanah Nasional Bhd has struck a deal to buy a 75 per cent stake in Turkey’s Acibadem group in a deal that values the country’s largest private hospital chain at RM5.32 billion.

Khazanah’s 70 per cent-owned subsidiary Integrated Healthcare Holdings Sdn Bhd (IHH) yesterday announced it would buy a 60 per cent stake in Acibadem Saglik Yatirimlari Holding A.S. (ASYH).  (source)

MALAYSIA - BANKING - Malaysia unveils plan to boost (Islamic) bank sector

channelnewsasia.com - KUALA LUMPUR - Malaysian Prime Minister Najib Razak Wednesday unveiled fresh plans to liberalise the country's financial sector in a bid to develop it as an international Islamic hub.

"The financial system will have a key role in spurring new areas of growth, and facilitating our economic transformation," he said in remarks contained in a report by Bank Negara.

Under the 10-year programme, the sector is expected to expand 11 percent annually between 2011 to 2020 and add another 56,000 jobs to the current 144,000.  (source)

MALAYSIA - BANKING - Financial Sector Blueprint 2011 - 2020

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Full book [PDF, 6.66MB]

EVENTS - Malaysia and Turkey exploring opportunities in ‘New Silk Route’

In the corridors of power in Ankara, a new thinking is emerging especially among the “Young Turks” of the Turkish establishment.

A combination of the aftermath of the global financial crisis; the seemingly intractable euro zone debt crisis with neighboring rival, Greece, bearing the brunt of the criticism; and endless obfuscation and simmering opposition by some diehard opponents to Turkish membership of the European Union; and the uncertainty in the Middle East and North Africa (MENA) region because of the so-called “Arab Spring,” is forcing Ankara to look beyond its traditional trading partners and markets in the EU and the Middle East and to consider alternative ways of raising funds and investments into the country. (source)

EVENTS - MIFC Newsletter - MIFC Business Seminar on Islamic finance in Istanbul

Tun Dr. Mahathir Projects Sustainable Future for Islamic Finance at MIFC Business Seminar on Islamic Finance in Istanbul

Tun Dr. Mahathir Mohamad, former Malaysian Prime Minister, has urged countries to resort more to using Islamic finance in the aftermath of the global financial crisis and stressed that the industry is here to stay and definitely has a future in the global financial system. Tun Dr. Mahathir was giving a Special Address on the theme "The Future of Islamic Finance - Creating Global Linkages and Connectivity to the Growth Real Economy to Promote Financial Stability, Economic Growth, Employment and Prosperity" at the opening session of the Business Seminar on Islamic Finance which was organised by Bank Negara Malaysia in support of the Malaysia International Islamic Financial Centre (MIFC) initiative from 28 to 29 September 2011 in Istanbul, Turkey. The Seminar was attended by H.E. Saipul Anuar Bin Abd Muin, Malaysian Ambassador to Turkey; Bank Negara Malaysia (BNM) Deputy Governor Muhammad bin Ibrahim; Dr Mustafa Ibrahim Turhan, and Dr Turalay Kenc, Deputy Governors of the Central Bank of Turkey; Yasar Yakis, former Foreign Minister of Turkey; senior representatives from the Securities Commission Malaysia, Labuan FSA and Bursa Malaysia; and of the Turkish Treasury, the Banking Regulation and Supervision Board of Turkey, Capital Markets Board of Turkey and the Istanbul Stock Exchange. Other participants included MIFC Community members and Turkish participation banks, corporates and academia. (source and full story)

MALAYSIA - REGULATIONS - New Exposure Drafts from IFSB

Exposure Drafts

ED12: Guiding Principles of Liquidity Risk Management
[ ENGLISH]

ED13: Guiding Principles of Stress Testing
[ ENGLISH]

MALAYSIA - REGULATIONS - The IFSB issues two new Exposure Drafts for Public Consultation

ameinfo.com - The Islamic Financial Services Board (IFSB) issues two new Exposure Drafts (EDs) for a three-month Public Consultation period starting today. The EDs are drafts of guiding principles on: 1) Liquidity Risk Management and 2) Stress Testing for institutions offering Islamic financial services (IIFS).

The drafts were approved for issuance by the Technical Committee, in its 25th meeting held in Abu Dhabi on 6 October 2011. The IFSB invites comments from among regulatory and supervisory authorities, international organisations, market players, academics and other interested parties on the two drafts.  (source)

CAPITAL MARKETS - Kuveyt Turk - Bond issuers turn to Malaysia, Asia

Today, Kuveyt Turk Participation Bank (KTPB), which is majority owned by Kuwait Finance House, one of the largest Islamic banks in the world, launches its roadshow for its proposed 5-year $350 million Sukuk Al-Ijara issuance. The fact that the roadshow is starting in Kuala Lumpur, Malaysia is revealing in that issuers from the Middle East, largely from the Gulf Cooperation Council (GCC) countries and now Turkey for the first time, are turning to investors in Malaysia and Asia to raise their funding requirements.  (source)

BANKING - Islamic finance seen taking roots in Turkey

GULFTODAY.AE - ISTANBUL: Turkey could emerge as a key market for Islamic finance while Asia continues to drive the industry’s growth but markets are still assessing the full impact of the global downturn on the sector, Maybank Islamic said on Tuesday. 

The recent growth of the sector coupled with the launch of several Islamic funds and a law granting tax neutrality to sukuk products have stirred talk that Turkey is poised to be the next growth market for sharia finance.    (source)

EVENTS - The Future of Islamic Finance "Creating Global Linkages and Connectivity to the Growth Real Economy to Promote Financial Stability Economic Growth, Employment and Prosperity" by Tun Mahathir bin Mohamad in Istanbul, Turkey

SPEECH BY
TUN DR MAHATHIR BIN MOHAMAD
IN ISTANBUL, TURKEY
0N 29 SEPTEMBER 2011THE FUTURE OF ISLAMIC FINANCE
“CREATING GLOBAL LINKAGES AND CONNECTIVITY TO THE REAL ECONOMY TO PROMOTE FINANCIAL STABILITY ECONOMIC GROWTH EMPLOYMENT AND PROSPERITY”

1. I would like to say thank you to the Malaysian central bank or Bank Negara Malaysia for this invitation to speak before this distinguished gathering of financial experts and others.  (source)

EVENTS - Deputy Governor's Opening Remarks at Business Seminar on Islamic Finance Istanbul : "Malaysia-Turkey Islamic Finance Cooperation: New Solution - Preferred Partner"

BNM.GOV.MY

Speaker : Dato' Muhammad bin Ibrahim Venue : Turkey Date : 29 September 2011 Language : English

I have the honour today to welcome distinguished guests to the Business Seminar organised by Bank Negara Malaysia, held in this beautiful and historic city of Istanbul. The theme "Malaysia and Turkey: The New Silk Route in Islamic Finance - Strategies for Collaboration, Cooperation and Smart Partnership" was chosen as a reflection of our desire to strengthen economic and business ties for the mutual benefits of both countries. The emergence of the 'Silk Route', a term coined by Governor Dr Zeti in 2006 opens up exciting prospects for countries and businesses. The new 'Silk Route' not only carries traditional trade of goods and services of old but also manufactured goods, technological innovation and know-how, portfolio flows, private equity investment and mobility of human capital and knowledge. Today, Islamic financial products and services are truly 'new' additions to this trade.  (source)

EVENTS - Bank Negara Malaysia held Islamic Finance Seminar with Turkish Financial Community

BNM.GOV.MY - Bank Negara Malaysia recently held a seminar on Islamic Finance in Istanbul, Turkey, in support of the Malaysia International Islamic Financial Centre (MIFC) initiative. Tun Dr Mahathir Mohamad, former Prime Minister of Malaysia delivered his Special Keynote Address at the event. The seminar was held from 28-29 September 2011. (source)

EVENTS - Bank Negara Malaysia - Business Seminar on Islamic Finance, 28-29 September 2011 Istanbul, Turkey

Bank Negara Malaysia (BNM) will be organising a business seminar at The Ritz Carlton in Istanbul, Turkey, from 28th to 29th September 2011. This business seminar is aimed at creating greater linkages between Malaysia and Turkey in the area of Islamic finance and increasing the level of business and financial transactions between the two countries. The main draw of the event is the Business Seminar on Islamic Finance on 29th September 2011 that will feature a special address by His Excellency Tun Dr. Mahathir Mohamad, Former Prime Minister of Malaysia. (source)

MALAYSIA - FINANCE - Malaysian Khazanah fund company, Integrated Healthcare, doing interviews for investment in Turkey in the field of health.

 KUALA LUMPUR - Malaysian state fund Khazanah Nasional'in, Acıbadem, reportedly conducted talks to buy shares.

According to news sources and based on one of Reuters'un, Khazanah'ın health units, 70 percent owned by Deutsche Bank is the Integrated Healthcare, consultant talks.

Integrated Healthcare is the recipient of multiple sales of items in stock and is one of the groups interested in the news, said the process can be completed in December. (source)

WORLD - OPINION - Money politics and political freedom - Islamic finance hubs : corruption and freedom (Turkey)

KARL Kraus said: “Corruption is worse than prostitution. The latter might endanger the morals of an individual, the former invariably endangers the morals of the entire country.” I was recently asked to give a speech on political freedom and corruption in Muslim countries. Both areas have a direct impact on capital flight and market formation, brain drain and economic development, portfolio investors and direct investments, including Islamic finance. (source)