Malaysia will issue a license for an Islamic “mega bank” in the third quarter of this year to help mobilize funds for businesses around the world, the country’s central bank governor said.
The Southeast Asian nation will also start a cross-border clearance platform for Shariah-compliant bonds, or sukuk, around the same time, Bank Negara Malaysia Governor Zeti Akhtar Aziz said in an interview in Jakarta yesterday. The initiatives are part of a plan to help fill gaps in the $1 trillion global Islamic finance industry……………………………………….Full Article: Source