APIB, MOX INK DEAL TO DRIVE COLLABORATION BETWEEN MALAYSIA, MACAO

KUALA LUMPUR, Dec 18  -- The Asia Pacific Investment Bank (APIB) has signed a Strategic Co-operation Framework Agreement with Chongwa (Macao) Financial Asset Exchange Co Ltd (MOX) to collaborate in the financial sector, particularly the Islamic finance segment between Malaysia and Macao.

In a statement today, APIB chief executive officer Chris Wang said the collaboration would contribute to the setting-up of the cross-border financial trading platform for public and private bond issuance in Macao and Malaysia, and broaden the direct and indirect financing channels for all parties.

Besides the issuance of bonds, additional focus would be placed on innovating Islamic finance and digital finance, he said. 

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“In the past few decades, the rise of Islamic finance has actively impacted the global financial system and capital investment flow, and the sector has gradually become the new favourite of many emerging markets in Asia,” he said.

For example, Wang said the Hong Kong Special Administrative Region had set up the Islamic financial platform in 2007 and has positioned Islamic green bonds as its key project to be developed in the future, seizing the opportunity to attract financial institutions or funds to issue Islamic green bonds in their local markets.

According to him, Macao offers a huge potential in terms of the development of international finance, as it is an important free trade zone and has the Greater Bay Area as a strong support base for both the supply chain and service chain. 

Meanwhile, being the centre of global Islamic finance, Malaysia has countless experiences on the issuance of Islamic bonds, said Wang.

“As such, we are confident in the potential of the development of Islamic green bonds market and are looking forward to it,” he added.

APIB is an offshore investment bank established by China Zijin Investment Group Co Ltd, and was approved by Malaysia's Labuan Financial Services Authority (Labuan FSA). 

MOX is founded by Namkwong (Group) Co Ltd, the only Macao-based and state-owned enterprise directly under the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), which is audited by Macao Monetary Authority. 

-- BERNAMA