The Securities Commission Malaysia (SC) has received the prestigious "Outstanding Contribution to the Development of Islamic Capital Market" award at a dinner held in conjunction with the 5th London Sukuk Summit from 8-9 June 2011. The SC’s Islamic Capital Market consultant Wan Abdul Rahim Kamil was also recognised with an award for “Outstanding Leadership in Islamic Finance”.
Read the rest of the MIFC eNewsletter here (June edition).
The award recognises the depth and breadth of Malaysia’s Islamic capital market and the pivotal role played by the SC in this regard. Accounting for 72.5% of global Sukuk issuances by domicile in 2010 and 65% of global sukuk outstanding by domicile as at December 2010, Malaysia’s pole position in the global Sukuk market was widely recognised by all the event. With its compounded annual growth rate (CAGR) of 22.2% from 2000-2010 and an expectation of double digit growth over the coming ten years, Malaysia was also acknowledged at the Summit as the engine for Sukuk market growth.
The awards were received on behalf of the SC and Wan Abdul Rahim Kamil by Dato Dr Nik Ramlah Mahmood, Managing Director of the SC who had earlier presented to the forum on the growth and diversity of Malaysia’s Sukuk market.
Established to help raise the standards in the Islamic finance sector and to set the highest benchmarks for the industry globally, the London Sukuk Summit Awards underline the international community's recognition of the important role the SC has played and will continue to play in the development and growth of Islamic finance and Sukuk in particular.
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