Published: January 25, 2010
Bourses will develop platform for trading Shariah-compliant finance products.
Bahrain and Malaysia's stock exchanges are setting up a new platform on which investors will be able to trade Islamic finance products.
Bursa Malaysia and the Bahrain Financial Exchange (BFX) have signed a memorandum of understanding to explore which products will be traded.
In a statement, Bursa Malaysia’s CEO, Dato’ Yusli Mohamed Yusoff, said “the collaboration with BFX is aimed at facilitating cross border development in the Islamic financial markets, widening market reach, exchanging technological expertise and building a sustainable business model for both exchanges.”
BFX board director Arshad Khan added: “This initiative is a major development for the Islamic finance market where the collaboration will seek to offer a wider risk management portfolio to global Islamic practitioners.”