OIC - COOPERATION ISLAMIC CAPITAL MARKETS - Memorandum of Understanding between Bank Negara Malaysia and Central Bank of the Republic of Turkey

www.bnm.gov.my - A Memorandum of Understanding (MoU) has been signed between Bank Negara Malaysia and the Central Bank of the Republic of Turkey on 16 May 2012 in Istanbul, Turkey by Dr. Zeti Akhtar Aziz, Governor of the Bank Negara Malaysia and Dr. Erdem Başçı, Governor of the Central Bank of the Republic of Turkey.

The MoU aims to foster strategic cooperation between Malaysia and the Republic of Turkey towards promoting bilateral investment and liquidity arrangements, to support the development of the financial services sector in both countries, and to enhance economic and financial linkages between the two countries through bilateral trade and investment. This will also include building the required financial infrastructure, payments and settlements arrangements to facilitate bilateral trade in the respective local currencies of the two countries. (source)

BANKING - Central bank to pay interest on Treasury deposits

Original post : http://islamicfinanceturkey.blogspot.com/2010/09/finance-bankers-take-hit-from-turkish.html

A motion to end the treasurer’s role of the Central Bank of Turkey has been warmly welcomed by economists.

The most important item in a debt restructuring package prepared by the government is seen as the change in the treasurer role of the central bank. Due to this change, the Finance Ministry can now earn interest on its fund of approximately TL 20 billion that is deposited in the central bank. Since the bank has accumulated a significant amount of funds, the interest payments will not overburden the Central Bank of Turkey.

FINANCE - Liquidity management - Islamic finance boost via IILM: Zeti

The establishment of the International Islamic Liquidity Management Corp (IILM) will further enhance the capacity of Islamic finance in facilitating efficient cross-border flows, Bank Negara Malaysia (BNM) Governor, Tan Sri Dr Zeti Akhtar Aziz, said today.