The Sultan of Perak, Malaysia Proposes the Establishment of ASEAN Islamic Finance Institution to Facilitate Foreign Investment in the Region 

Sultan Nazrin Muizzuddin Shah, the Sultan of Perak, Malaysia, has proposed the notion of establishing an Association of Southeast Asian Nations (ASEAN) institution of Islamic finance to encourage incoming foreign investment for regional infrastructure and other projects as he spoke at the 17th Kuala Lumpur Islamic Finance Forum (KLIFF) that took place on the 16th of August 2022.

Why it Matters?

As the global economy continues to shift eastward, the Islamic finance industry can boost additional expansion throughout ASEAN by driving investment and creating social value. Given the enormous populations of several ASEAN nations, the development of such an institution would promote trade and employment. The region continues to witness growth in consumer mark...