AIBIM

A Memorandum of Understanding founded on mutual interest and equivalence has been signed between The Participation Banks Association of Turkey (TKBB) and Association of Islamic Banking Institutions Malaysia (AIBIM) on date 15th May, 2012. Being signed by the Chairman of the Board of Directors of TKBB Mr. Fahrettin YAHŞİ and the President of AIBIM Mr. Dato’ Mohd Redza Shah Abdul Wahid, the agreement has declared a preliminary Turkey – Malaysia collaboration in interest-free banking area. Areas of Collaboration:

(a) the awareness programme on Islamic interbank, capital market and/or other mutually agreed areas on Islamic finance for the international banking community;

(b) the advancement and standardisation of Islamic financial instrument structures, contracts, product development and infrastructure;

(c) the issuance of guidelines, best practices and recommendations in relation to Islamic banking and Islamic capital and money market;

(d) the production of unified documentation frameworks and product development for Islamic financial institutions;

(e) a wider Sharia acceptance of the Islamic financial instrument structures, contracts, product development and infrastructure;

(f) the exchange of knowledge and expertise on Islamic banking and Islamic capital and money market; and

(g) any other specific initiatives which will be mutually agreed upon by the Parties from time to time.

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