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Tuesday, September 29, 2009

Bank Negara, HKMA sign pact on financial services

BANK Negara Malaysia and the Hong Kong Monetary Authority (HKMA) has signed a memorandum of understanding to cooperate in developing the financial services industry, particularly in Islamic finance.

Both parties agreed to strengthen cooperation in several key areas such as capacity building and human capital development.

They will also work together in promoting and developing market infrastructure and in promoting cross-border financial activities through harmonisation of standards relating to Islamic finance transactions.

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