Malaysia aims to raise the awareness of central bankers in other countries regarding the Islamic financial system under a new series of programs launched recently by the Malaysian central bank and government, Khaleej Times says. The program also taps the expertise of local universities, which will offer education and training programs on Islamic financial products. The Malaysian central bank, Bank Negara, is also developing new instruments aimed at boosting cross-border financial transactions, according to The Star. The overall goal is to improve the liquidity of the Islamic banking system, Tan Sri Zeti Akhtar Aziz, the bank’s governor, said during the 6th World Islamic Economic Forum held May 20 in Kuala Lumpur.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.