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TRADE FINANCE | Cesar Tordesillas, Malaysia

Foreign Islamic banks asked to invest In Sabah

Sabah wants more foreign Islamic banks, especially from the Middle East, to invest in the state, said Chief Minister, Datuk Seri Musa Aman.


He said as the state continued to grow and prosper, it would offer vast investment opportunities.

"Islamic banks from the Middle East would bring significant experience from the Gulf region and share this with local financial institutions," he said at the opening of Kuwait Finance House branch in Malaysia.

Musa said Sabah has undergone major developments in recent years and put in place business-friendly policies as well as various attractive incentives to ensure competitive and conducive environment for both local and foreign investors.

He said the state government appreciated KFH Malaysia's efforts in bringing Islamic banking to the state and hoped that the setting up of its branch here would herald the start of a long and fruitful relationship with the people of Middle East.

"It is hoped that this will encourage more people to go for syariah-based banking products and services.

"Sabahans would benefit as there would be more opportunities and choices in Islamic banking products and services," he said.

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