KUALA LUMPUR: Bank Negara Malaysia is likely to issue up to two mega Islamic bank licenses under the KL International Financial District (KLIFD) project.
The central bank’s Governor Tan Sri Dr Zeti Akhtar Aziz yesterday said Bank Negara hoped to announce at least one mega Islamic bank later this year.
She said this to reporters on the sideline of the ongoing Global Islamic Finance Forum (GIFF) here.
Commenting on BNM’s preparation on the proposed RM26 billion KLIFD project, a high-end mega property project which includes the development of a world-class financial hub, she said it would cover 34.4 hectares in size and will be led by 1Malaysia Development Bhd.
Work on the project is expected to start middle of next year.
Meanwhile, on the country’s economy, she said the external environment is likely to affect the current strong domestic economy.
“Going forward, this year will remain firmly on its recovery growth path although we may see some moderation…if it is managed well we can achieve seven per cent growth in 2011,” she said.
Earlier, Zeti presented a report on ‘Islamic Finance and Global Financial Stability April 2010’ to some 200 participants at the GIFF including Islamic scholars, industry analysts and players.
Meanwhile, on the issuance of the first short term paper under the International Islamic Liquidity Management (IILM), she said the first issuance will be during the first half of next year. — Bernama