MALAYSIA: Islamic Finance
news has learnt that Aberdeen Asset Management (Malaysia) is planning to launch two Shariah compliant retail funds targeting the global and local markets, respectively.
Gerald Ambrose, its managing director, said that the company submitted its application to Securities Commission Malaysia for its approval on the funds on the 30th March 2012; adding that he is optimistic the approval process is currently in its final stages.
On the outlook of Malaysia’s market for Islamic funds, he said that: “Based on the funds we’re managing right now, the market is good and we’re hopeful that it will stay good until the end of the year.”