Malaysia says Islamic finance play important role in global financial stability

18:05, May 20, 2010      

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The rapid growth of the Islamic finance has evolved to become a competitive component of the global financial system, which would contribute to global financial stability and economic growth, governor of Malaysian central bank said in a statement here on Thursday.

Zeti Akhtar Aziz, governor of Bank Negara Malaysia, the central bank, said that the largely uninterrupted expansion of global growth in Islamic finance has drawn significant interest from all quarters.

She added, while the Islamic financial system has generally performed well during global financial crisis, several financial reforms would further strengthen the Islamic Financial.

According to the statement, Islamic finance performs its intermediation function that strengthens its potential role towards achieving more financial finance systems and strengthen financial linkages between nations.

She said, higher level of global cooperation would enhance the prospects of Islamic finance to contribute towards securing global financial stability and a greater shared economic prosperity.

Source: Xinhua

(Editor:祁澍文)

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