Malaysia's Islamic banking system a model to nations

Second Finance Minister Tan Sri Nor Mohamed Yakcop said several Islamic countries such as Bahrain, Qatar dan the United Arab Emirates (UAE) had expressed their interest to learn from Malaysia in implementing such a banking system.

Malaysia's Islamic banking system a model to nations
Malaysia's Islamic banking system has gained international recognition with several Islamic countries have expressed their desire to learn from Malaysia's success story.

Second Finance Minister Tan Sri Nor Mohamed Yakcop said several Islamic countries such as Bahrain, Qatar dan the United Arab Emirates (UAE) had expressed their interest to learn from Malaysia in implementing such a banking system.

"We introduced the Islamic banking system in 1983 when most Islamic nations did not dare do it, but we have managed to bring it to this level," he told reporters after opening the National Malay Entreprenuers and Merchants Association (Perdasama) Penang branch's annual general meeting here.

Nor Mohamed said in the 1950's and 1960's, other countries did not expect Malaysia's economy would be able to grow rapidly as what was happening now due to its multi-racial society.

"We have proven that we could develop our country using our own formula without sidelining any quarters. Although we've gone through several crises, our economic remains resilient without having to seek aid from the World Bank," he said.
Last Mod: 13 Mayıs 2007, 18:23
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