MALAYSIA: There exists a need to address cross-border issues including the regulatory framework for funds approval, distribution and supervision, as the Islamic fund management industry moves towards greater internationalization, said Zarinah Anwar, the chairman of the Securities Commission Malaysia.
In view of this, Zarinah explained that cross-border collaboration among regulators is an important aspect of the industry’s development to ensure appropriate investor protection and effective oversight of related intermediaries and their cross-border activities.
These factors are especially crucial as the growth of Malaysia’s Islamic capital market will be driven by further internationalization and a distinctive value proposition of products.