The Tun Razak Exchange (TRE) launched earlier this week by Prime Minister Tan Sri Najib Tun Razak has been seen as a positive move by economists to reshape the fi nancial landscape of Malaysia, particularly in Islamic finance. “With the country’s early mover advantage in Islamic finance, TRE could fulfi l its aspirations of becoming, if not a global Islamic finance scene.
“With the country’s position as the sustained rise in local and foreign participation in Malaysia’s Islamic banking and sukuk markets.” Nor Zahidi Alias, chief economist at Malaysia Ratings Corporation Bhd (MARC) supported this view, believing that the general outlook for this was positive. “It is a part of the above gross domestic product (GDP) trend growth envisaged for the financial services sub-sector.” “The planned large scale investment and the agglomeration effects created by the government as well as the Kuala Lumpur International Financial District (KLIFD), is one of Malaysia’s financial services sub-sector to expand between six to seven per cent annually over the next few years.
“It remains positive because of the front-running countries of the above gross domestic product (GDP) trend growth envisaged for the financial services serving the Asean Economic Community that will be a reality in 2015,” he outlined.
Here is why
Tun Razak Exchange is speculated to be the next big thing in Kuala Lumpur Properties.
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