MDV to strengthen Islamic and Green Financing

Islamic Financing

Malaysia Debt Ventures Berhad (MDV), a wholly-owned subsidiary of the Minister of Finance Inc. has  signed a Memorandum of Understanding (MOU) with Astana International Financial Centre Authority (AIFC) during the Islamic Green Financing Week at the Malaysia Pavilion Astana Expo 2017 in Astana, Republic of Kazakhstan.

MDV was represented by its Managing Director and Chief Executive Officer, YBhg Datuk Md Zubir Ansori Yahaya and AIFC was represented by Alibek Nurbekov, Director of the Islamic Finance department.

“The MOU was inked to foster the development and sharing of best practices, expertise and knowledge in the field of Islamic and Green finance, as well as to strengthen mutual efforts in building of Islamic and Green finance ecosystem of both companies and countries,” said YBhg Datuk Md Zubir Ansori Yahaya.

Zubir added, “With this understanding between MDV and AIFC, we are able to develop and promote Islamic and Green finance markets via MDV and AIFC’s platforms to encourage and enhance the depth of both markets’ functions and competitiveness.

AIFC, a financial hub which regulates the legal relationships between AIFC participants and third parties is aimed at the development of the financial market with its main interests comprising Capital Markets, Asset Management, Islamic Finance, Fintech, Private Banking and Green Finance. AIFC will serve to assist MDV in increasing access to its Islamic and Green financing areas to complement MDV’s financial products and services.

Zubir also stated that with the global focus on green technology financing, this affiliation between MDV and AIFC will help to facilitate the transition of Kazakhstan corporations into the green and sustainable economic development by providing required financing infrastructure to the already existing financial ecosystem.