The Indian government will come out with a policy decision as regards the establishment of Islamic banks and finance institutions, according to WIEF Secretary-General Tan Sri Ahmad Fuzi Abdul Razak
He said that Islamic finance has attracted considerable Indian government and local media interest as the subject is considered new.
He added that this has been the case in all WIEF visits to other countries as well, and in India in particular simply because no Islamic finance institution has been established there.
Ahmad Fuzi said WIEF will continue to provide that platform and welcome participants from India to attend its session on this particular area.
“They should take advantage of the opportunities available in Malaysia with regards to training programmes because it is difficult to establish such institutions without developing the right expertise and building up resources,” he said.
Ahmad Fuzi was here with a delegation led by WIEF Chairman Tun Musa Hitam for yesterday’s one-day International Advisory Panel meeting, which saw substantial participation from India’s corporate and public sectors.
“The meeting in New Delhi was very successful, we were able to resolve and make decisions on a number of aspects in relation to the preparation for the 8th WIEF in Johor, Malaysia,” Ahmad Fuzi said.
This article was published at the Asian Banking and Finance website on 5th July 2012.
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