Malaysian deputy promotes Islamic finance as means of channelling funds to SMEs

Countries taking their first steps into the world of Islamic finance should focus on schemes that provide alternative sources of funding to small and medium-sized enterprises (SMEs), according to Muhammad bin Ibrahim, a deputy governor at Bank Negara Malaysia.

Ibrahim, speaking at a conference in Mauritius, encouraged policy-makers in the region to "start where it matters most" and "embark on initiatives that could assist the low and middle income groups".

This, he said, could be achieved by