Wednesday October 3, 2012
SC: Islamic capital market remains promising
KUALA LUMPUR: The Islamic capital market remains promising as the current growth momentum is expected to sustain moving forward, supported by investment in the key drivers for growth, Securities Commission (SC) deputy chief executive Datuk Dr Nik Ramlah Mahmood said.
She said as the industry progressed, it must continue to overcome the challenges, build scale and reach critical mass in order to sustain growth and put the industry in a position of strength.
“In considering the need for sustainable development of the Islamic capital market, we should not overlook the other underlying elements that will guide the process towards achieving this objective,” she said in her speech at the Islamic Finance News 2012 Issuers and Investors Asia Forum here yesterday.
The elements included strong governance, disclosure, proper due diligence, transparency, ethics, and corporate as well as social responsibility, she said.
Nik Ramlah said SC, under the Second Capital Market Masterplan (CMP2), had embarked on various initiatives to enhance the growth of the Islamic capital market.
“These include the need to strengthen the service and operational infrastructure, promote the syariah-based approach and increase international collaboration on syariah research and product development,” she said.
Under the CMP2, the country's Islamic capital market is projected to grow at an average 10.6% per annum.
The capital market is expected to be valued at RM3 trillion by the end of 2020. - Bernama