Malaysia sets out regulations on the Malaysian Islamic Finance Centre

Reuters India reports that Bank Negara Malaysia, the central bank of Malaysia, has issued new regulations designed to increase the market share of the MIFC in the worldwide. In the press release, the new guidelines are:

"part of the Government initiative to promote and strengthen Malaysia's position as a centre of origination, distribution and trading of Islamic capital market and treasury instruments, Islamic fund and wealth management, international currency financial services, and takaful and re-takaful business."