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BFX, Bursa Malaysia aim for standard Islamic market
09 March 2010
Bursa Malaysia and Bahrain Financial Exchange (BFX) have signed a commercial agreement to provide financial products to Islamic market participants and strengthen bilateral ties between the two.
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Bursa Malaysia
Bahrain Financial Exchange
Islamic products
Shariah
BFX, which is due to launch a new pan-asset derivatives
exchange during the first quarter of the year, will hope to benefit from
Malaysia’s experience in marketing niche products.
The MoU includes a feasibility study to identify products
and market channels, including Islamic products, based on an assessment of
market needs.
Bursa Malaysia’s chief executive, Dato’ Yusli Mohamed
Yusoff, said: “This is a major step towards consolidation in the Islamic
finance world. As Malaysia and the Middle East are the leading centres of
Islamic finance, and as both exchanges come together on a single platform, this
will add strength to this industry.
“This initiative will go a long way in addressing the issues
of standardisation, innovation and transparency thus providing a new dimension
to the Islamic finance market.”