Business Times report on 28th March, 2007
http://www.btimes.com.my/Current_News/BT/Wednesday/Frontpage/BT615501.txt/Article/index_html
Prime Minister Datuk Abdullah Badawi has announced that the Government has eased regulations and allowed foreigners to own 100% stake of an Islamic Financial Institution so as to make Malaysia, the Islmic Financial Hub of the world.
I would applaud the move. The way I sees it, it is a sensible move and with the tax holidays incentives, this would certainly spur Malaysia on as a prefered choice of Islamic Financial Institution in and around the world to come to Malaysia bringing with them tonnes of money.
Being optimistics, I wonder if this is a testing-the-water move by the National Coalition Government to see how the 'people' (i.e the Malays) would react. As this could become a pioneering move that has the potential to spur the government away from future race-based affirmative policies.
I guessed we could only wait and see.
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