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FOREIGN FUND MANAGERS BEING WOOED TO MALAYSIAN ISLAMIC FUND MARKET.
KUALA LUMPUR, April 1 Asia Pulse - The Securities Commission (SC) is in talks with a few fund managers from the United States, Europe and the Gulf countries on establishing their operations in the Islamic fund management market in Malaysia.
"We welcome global fund managers to set up business in the Islamic fund management market. There will be no restrictions for them, SC chairman Zarinah Anwar said at a briefing on the SCs 2007 Annual Report here Monday.
"They will however have to keep out of the conventional fund management market here - Not for the time being as we've already got five strong foreign fund companies," she said.
The regulator had in 2005 issued licences to five foreign firms to carry out stockbroking operations here as part of the government's efforts to make the country an attractive centre for the management of regional and global funds.
The five are Aberdeen Asset Management, BNP Paribas Asset ...
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Source: HighBeam Research, FOREIGN FUND MANAGERS BEING WOOED TO MALAYSIAN ISLAMIC FUND MARKET.