Saturday, 16 November 2013

Prince Charles keen to explore Islamic finance

COLOMBO: Prince Charles is keen to explore Islamic finance as an instrument in managing climate change in countries vulnerable to natural disasters.

The Prince of Wales inquired about Islamic finance to Prime Minister Datuk Seri Najib Razak in their half-hour meeting here Friday at the invitation of Prince Charles.
Prince Charles and Najib are in the capital of Sri Lanka in conjunction with the Commonwealth Heads of Government (CHOGM) Meeting 2013.
Speaking to Malaysian journalists here, he said Prince Charles asked him if needy countries and those categorised as "small and vulnerable" could gain access to Islamic financing.
In response to the inquiry from Prince Charles, the Prime Minister said, he explained that it requires indepth study.   
This is because, he said, it may require the involvement of sovereign funds if they want to issue Sukuk for such financing.
During the meeting, Najib said they exchanged views on the Commonwealth and the future of the organisation.
On his meeting with Sri Lankan President Mahinda Rajapaksa on the latter's invitation on Thursday, he expressed his view on the tourism potential of the island.
He said Malaysia and Sri Lanka also want to improve the good ties following the end of the country's internal conflict.
"In this peaceful time, the potential of Sri Lanka is more visible," he added.

(News Straits Times / 16 Nov 2013)
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