UK - EVENTS - SPEECH - Muhammad: Still Room For Cooperation Between KL And London On Islamic Finance

KUALA LUMPUR, Nov 30 (Bernama) -- There is still room for cooperation between Kuala Lumpur and London on Islamic finance, says Bank Negara Malaysia (BNM) deputy governor, Datuk Muhammad Ibrahim.

He said collaboration between financial centres in Islamic finance was an important part of the process that would contribute towards expanding global development of the industry.

"The importance of our relationship has been cemented not long ago with the signing of the memorandum of understanding between BNM and the United Kingdom Trade and Investment," he said in his keynote address at the ISRA-IIBI Second Annual International Thematic Workdshop 2010 in London Monday.

UK - EVENTS -SPEECH - Deputy Governor's Keynote Address at the ISRA-IIBI 2nd Annual International Thematic Workshop 2010: "The Polemics of Governing Law in Islamic Finance"

Speaker : Dato' Muhammad bin Ibrahim Venue : The Thomson Reuters Building, London Date : 29 November 2010 Language : English

Let me first thank the organizers for inviting me to speak at this ISRA-IIBI 2nd Annual International Thematic Workshop 2010. Although I very much regret not being able to be in London in person, I am thankful for the many advances of modern technology for the opportunity to briefly address all of you this morning. I am also happy to note that this event is a continuation of international collaboration between the organizers, the International Shariah Research Academy for Islamic Finance (ISRA), the Institute of Islamic Banking and Insurance (IIBI) and Thomson Reuters, following the success of the inaugural workshop held last year. The theme of this year's workshop, 'The Polemics of Governing Law in Islamic Finance: Recent Developments and the Way Forward', is most apt. With the emergence of Islamic finance as a new growth area in the global financial landscape, this Workshop provides an excellent forum to exchange views and information on topical legal issues in Islamic finance. As Islamic financial activities are increasingly crossing national boundaries, it is critical for more such dialogues to take place at an international level, in order to gain wider perspectives that can contribute to the development of a legal framework for Islamic finance that is internationally facilitative.