Malaysia

Malaysia’s Islamic finance sector is further consolidating its position as a market leader, moving to broaden its product range and expand its reach, though it may need to keep an eye on rivals aspiring to emulate its success.

The early September announcement that Malaysia is home to some 6000 species of herbs, all of which could have commercial value, has refocused attention on the possibility of a brand-new industry for the South-east Asian nation.

Malaysia’s automotive insurance sector has seen several important improvements in the past few months, with the industry’s regulator issuing a series of directives designed to strengthen policyholder protection, rationalise costs and speed claims processing. The industry has generally welcomed these changes, though some experts have suggested that full compliance could be hard to achieve.

Some important changes for the Malaysian aviation sector lie ahead, after the recent announcement by the main shareholders of the country’s two major airlines that they are beginning a new partnership.

The Malaysian government is calling on the private sector to speed up the roll out of new information and communication technology (ICT) services, a move that will support the state’s long-term strategy of promoting a knowledge-based economy.

During his first official visit to the UK this month, Prime Minister Najib Abdul Razak showcased his country as a profitable destination for foreign investment by companies – especially those in the UK, which already have strong historical and business ties with Malaysia.