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Fundamentals of Islamic Money and Capital Markets
book

Fundamentals of Islamic Money and Capital Markets

by Azmi Omar, Muhamad Abduh, Raditya Sukmana
April 2013
Beginner content levelBeginner
256 pages
7h 6m
English
Wiley
Content preview from Fundamentals of Islamic Money and Capital Markets

Chapter 3

Regulators and Transactions Platform for Capital and Money Markets

Learning outcomes

At the end of this chapter, you should be able to:

1 Understand the role of Bank Negara Malaysia on the development of Islamic financial markets in Malaysia.

2 Appreciate the role of the Securities Commission on the development of Islamic financial markets in Malaysia.

3 Distinguish the role of Bursa Malaysia on the development of Islamic financial markets in Malaysia.

Introduction

Since the inception of Islamic finance in the 1960s, Malaysia is among the countries that have provided a wide range of Islamic financial products and activities and therefore has become the main player of Islamic finance in the world today, particularly in the Islamic Capital Market (ICM) area. These achievements cannot be separated from the role of the Malaysian government through its bodies/institutions, such as Bank Negara Malaysia (BNM), Securities Commission (SC), and Bursa Malaysia (BM). They have played very important roles for the past decade and have made Malaysia the leading country in ICM.

Bank Negara Malaysia (BNM)

Bank Negara Malaysia (BNM), the central bank of Malaysia, was established on January 26, 1959, under the Central Bank of Malaysia Act of 1958, which has since been repealed by the Central Bank of Malaysia Act of 2009.

The principal objects of the BNM, according to the Central Bank of Malaysia Act of 1958, shall be:

1. To issue currency in Malaysia and to keep reserves safeguarding the ...
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Publisher Resources

ISBN: 9781118504024Purchase bookDownloads