Published: Tuesday January 8, 2013 MYT 10:47:00 AM
Updated: Tuesday January 8, 2013 MYT 3:27:00 PM
PM: Malaysia must lead in making sukuk part of global investment mainstream
By MAZWIN NIK ANIS
Najib signing a plaque upon his arrival at the launch. KUALA LUMPUR: The challenge for Malaysia, which now accounts for three-quarters of the global sukuk market, is to make sukuk part of the global investment mainstream.
Prime Minister Datuk Seri Najib Tun Razak said to continue to be the leader in capital markets, Malaysia has to develop and maintain the market infrastructure and widen the investment base.
Najib said for investors who have been buffeted by the financial crisis in western markets, Islamic bonds were an alternative growth model.
"In a time of rapid development and in a region characterised by strong growth, we must maintain our focus.
"Malaysia must remain an open, outward-facing economy, a world leader in strategic sectors and a key player in a multi-trillion dollar regional market.
"We must show that economic growth need not come at the expense of financial stability, that development need not mean conflict with others," he said.
The Prime Minister was speaking at the launch of the Exchange Traded Bonds and Sukuk (ETBS) here Tuesday, which saw the maiden issuance of retail sukuk of DanaInfra Nasional Berhad.
The launch saw an initial tranche of RM1.5bil for the first phase MRT Kajang-Sungai Buloh line, in which RM300mil is being allocated by DanaInfra for retail investors through the ETBS, the first to be open to the public.
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