KUALA LUMPUR: The Islamic Research & Training Institute (IRTI) of the Islamic Development Bank (IDB) Group and CIMB Islamic Bank Bhd has partnered to develop the Islamic Finance Country Reports (IFCR) on Malaysia and Indonesia.
The IFCR is expected to provide in-depth information, and independent due diligence to facilitate the growth and development of the Islamic finance industry in IDB Group member countries and encourage investment by enhancing transparency.
Ini a statement on Friday, CIMB Islamic chief executive officer Badlisyah Abdul Ghani said that stakeholders within the industry need to be adequately equipped with necessary knowledge and better understanding to steer the business towards new directions within the Islamic finance industry.
He added that IFCRs will provide the industry with valuable knowledge resources towards enhancing the Islamic finance industry and cater to the growing number of customers in the real economy through well-structured, sustainable and innovative products and services.
Meanwhile, director general of IRTI Mohd Azmi Omar said that IFCR will analyze the success story of the Malaysian Islamic finance industry and provide the lessons learnt to other IDB member countries.
Through this combined initiative, the two institutions aim to facilitate access to information that is currently not available to stakeholders and thereby ontribute to the growth and development of the Islamic finance industry.
Apart from helping to increase investor confidence, the reports will facilitate better understanding mong regulators, market players, academicians, students and other stakeholders.
(The Star Online / 21 November 2014)---
Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com