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Monday 30 Mar 2015 - 12:53 Makkah mean time-10-6-1436  Sultan of Perak Nazirn Shah (Google Image) Kuala Lumpur (IINA) – Sultan of Malaysian Perak State Nazrin Shah has called on policymakers to consider Islamic finance as a viable complement or reinforcement to the still fragile global financial system.
He said the principles and values in the Sharia-compliant Islamic finance are universally desirable and should therefore be acceptable.
“However, we must also recognize that strong commitment and coordination among the policymakers and other relevant stakeholders are required for this approach to achieve a positive outcome.
“I look forward to even more developments in relationship building between parties in the United Kingdom and Malaysia in the coming years,” he said in his latest address at the 6th Securities Commission-Oxford Centre for Islamic finance.
Sultan Nazrin Shah, who is also Royal Patron for Malaysia’s Islamic Finance Initiative, welcomed closer collaboration in various areas of Islamic finance between the two countries to create greater business opportunities, strengthen industry skill sets and enhance industry profiling, according to Malaysia news agency BERNAMA.
As a global financial center, he said London could create a wider acceptance and adoption of Islamic finance, which would later on contribute significantly towards the vibrancy and reach of Islamic finance, not only in the country but also globally.
AB/IINA
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