Categories: MoneyNews

BNM provides regulatory flexibility for banks to issue ringgit-denominated sukuk

KUALA LUMPUR — Bank Negara Malaysia (BNM) is now providing regulatory flexibility for multilateral development banks to issue ringgit-denominated sukuk and to provide ringgit financing to resident entities in Malaysia without prior approval from the central bank.

Deputy Governor Adnan Zaylani Mohamad Zahid said the foreign exchange policy flexibilities, as a package, are expected to reduce the concern of foreign exchange mismatch for both the lender and the borrower.

“Another shared priority is our respective focus on green finance and sustainability agenda.

“We would also like to welcome greater engagement from multilateral development banks such as the Islamic Development Bank (IsDB) to participate in providing financing and critical expertise in the area of sustainable development in Malaysia, particularly in green finance and sustainability,” he said during a keynote address at the roundtable discussion between the IsDB and Malaysia’s Islamic Financial Markets Subcommittee (IFMC) today.

According to Adnan, identifying common priorities for the IsDB and Malaysia will enable the banks to channel resources and focus efforts more effectively.

“It is instrumental in facilitating a deeper understanding of each other’s investment preferences and risk appetites, paving the way for mutually beneficial investment linkages,” he added. — BERNAMA

Dayang Norazhar

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