KUALA LUMPUR, Islamic finance has the opportunity to grow into the halal sector, and Malaysia can be the first country to lead the convergence, said a board member of Dinarstandard, Advisory Board for Crescentrating and Falah Capital, Rushdi Sidduqui.
He said if Malaysia took this vision and pushed it ahead, it has the credibility to have the world looking at it seriously.
“At the end of the day, it’s all about getting the institutional support, but the thing about Islamic finance and the halal space are both have to be politically-supported,” he told reporters during a discussion on ‘Financing the Halal: Why Not Islamic Finance’ in conjunction with the Global Islamic Finance Forum here today.
He said Islamic finance must diversify from real estate bias, including many sukuk linked to real estate, as there were other real economy sectors and halal market was one of it.
Rushdi, who is one of the panelists at the three-day GIFF event, said the halal market needed Islamic equity funds.
Originally published on www.bernama.com