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Bursa Malaysia Berhad and Bahrain Financial Exchange (BFX) inked a Memorandum of Understanding (MoU) to develop a commercial agreement between the two exchanges to provide financial products to Islamic market participants and strengthen bilateral ties.
Among others, the MoU will involve a feasibility study to identify products and market channels based on an already completed needs assessment for this market.
Additionally, the MoU also lays the foundation for both exchanges to work on increasing awareness on investment opportunities in the respective Islamic markets.
Bursa Malaysia's CEO, Dato' Yusli Mohamed Yusoff, who signed the MoU on behalf of the Malaysian exchange said: "The collaboration with BFX is aimed at facilitating cross border development in the Islamic financial markets, widening market reach, exchanging technological expertise and building a sustainable business model for both exchanges."
BFX board director Arshad Khan said: "This initiative is a major development for the Islamic finance market where the collaboration will seek to offer a wider risk management portfolio to global Islamic practitioners."
