Islamic private-equity investments are poised to quadruple in Malaysia to US$3.1 billion (RM9.8 billion) in five years on government incentives, according to the industry’s biggest fund manager.
CIMB Islamic Bank Bhd, which oversees RM1.7 billion of funds that invest in unlisted companies, is handling more cash for state institutions and benefiting from tax exemptions on fees until 2016, chief executive officer Badlisyah Abdul Ghani said. Syariah-compliant regulations and fund-raising options are developed enough to support growth in the market, which has about RM2.5 billion in assets, he said………………………………………..Full Article: Source