KUALA LUMPUR, 5 SEPT – Russia can take advantage of Malaysia’s strength as a global leader in Islamic finance, said Malaysian Prime Minister, Datuk Seri Anwar Ibrahim.
Anwar said Islamic finance is a suitable area for cooperation for the two countries because Malaysia has a robust institutional ecosystem that not only complies with Sharia Principles but also drives innovation in financial instruments.
“Russia, with its large Muslim population, has great potential in Islamic finance, and I believe the introduction of Islamic banking in Russia will facilitate joint projects and attract large investments from countries with a majority Muslim population,” he said while addressing a plenary session at the Forum. 9th Eastern Economic Forum (EEF), in Vladivostok, Russia, today.
According to news reports, Russia launched an Islamic banking system in four major Muslim-dominated regions of the country starting September 1 last year as part of a two-year pilot program.
Russia has a large Muslim population numbering between 20 and 25 million people.
Meanwhile, Anwar said that as one of the largest grain producers and exporters in the world, Russia plays an important role in ensuring global food security and that the country is one of the main players in the agricultural sector.
“Russian agricultural exports play an important role in stabilizing the global market amid ongoing supply chain disruptions,” he said.
Regarding collaborative efforts to develop high-tech solutions, especially in energy efficiency, data transmission and smart city technology, Anwar said Putrajaya and Moscow can leverage their respective collective strengths to drive innovation and address the challenges of the 21st century.
In addition, he said the push for the advancement of advanced technology such as artificial intelligence (AI) and semiconductor technology should be guided by humanitarian values ​​and an attitude of selflessness. – Named
