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ISLAMIC FINANCE OF MALAYSIA
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ISLAMIC FINANCE OF MALAYSIA
Annotation
PII
S0321-50750000616-3-1
Publication type
Article
Status
Published
Authors
Ilyas Zaripov 
Edition
Issue №2
Pages
41-46
Abstract
The article is devoted to history of Malaysian financial system establishment representing the unique dual structure consisting of a combination of traditional and Islamic financial institutions in banking, insurance system and stock market. In Malaysia, first Islamic Banking Act was adopted in 1983 that supported formatting the full-fledged financial system based on interrelation and the fair and transparent competition of two financial models - traditional and Islamic. The author shows a significant role of state authorities (the Bank Negara Malaysia and the Securities Commission of Malaysia), in formation, regulation and development of Islamic financial sector and supervise of integrity of the national financial system. In brief, Islamic finance and Islamic financial products’ basic features are provided. Now Malaysia, being the global prominent leader in Islamic stock markets, in banking and takaful systems, continues to set ambitious tasks and to solve them, setting an example of good practice to other countries, like Russia, on the way of dual financial system development.
Date of publication
01.02.2017
Number of purchasers
4
Views
1025
Readers community rating
0.0 (0 votes)
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References



Additional sources and materials

1.  Bank Negara Malaysia - www.bnm.gov.my; SecuritiesCommission Malaysia - www.sc.com.my  
 2.  CIA World Factbook, 2015 - www.cia.org  
 3.  World Economic Outlook Database. IMF. April 2016 -http://www.imf.org/GDP per capita, current database intl.$.World Bank. February 2016 - www.betadata.worldbank.org  
 4.  Zaripov I.A. Islamskaya finansovaya model': plyusy i minusy // Aziya i Afrika segodnya. 2016,№ 7.      
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 8.  Islamic Funds Industry: 2015. Review& Outlook. MIFC.KL, 2015.  
 9.  The Malaysianinsider. KL, January 2016 - http://www.themalaysianinsider.com  
 10.  Ernst and Young. Banking in Emerging Markets: Investing for success. N.Y., 2015, p. 9 - http://www.ey.com  
 11.  Bergama. Malaysia: halal products export to hitRM50bln this year 9 January 2016 - http://halalfocus.net/malaysia  
 12.  Malaysia plans ethical sukuk guidelines as sector expands. KL, March 12, 2015 - http://m.themalaymailonline.com  
 13.  Principles of Responsible Investment - UNRPRI - www.un.org  
 14.  General'nyj direktor Islamskogo banka razvitiya vstretilsya s dukhovnym liderom Irana // Agentstvo Iran.ru. 6.04.2016.  
 15.  Kalashnik A. Modern Chinese market and its challenges. Russian-Chinese business seminar of Moscow Times «Doing business with China». Minutes. Moscow, November 27, 2015. P. 1.  
 16.  RAEhIF - Rossijskaya assotsiatsiya ehkspertov po islamskomu finansirovaniyu - obschestvennaya organizatsiya,sozdannaya v 2010 g., v sostav kotoroj vkhodyat rossiyane -spetsialisty po islamskim finansam (www.raeif.ru) (prim. avt.).

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