Central Banking

Malaysian banks working on a Swift rulebook for Islamic transactions

Zeti Akhtar Aziz at Bank Negara Malaysia
Zeti Akhtar Aziz, governor of Bank Negara Malaysia

Malaysian banks are working on a new rulebook for using Swift messages in Islamic financial transactions, which Bank Negara Malaysia governor Zeti Akhtar Aziz believes will take the country a "step further at the frontier of Islamic finance".

Zeti revealed the Association of Islamic Banking Institutions Malaysia – along with "other stakeholders" – are collaborating with Swift on the rulebook. She made her remarks at the launch of Swift's new, expanded office in Kuala Lumpur yesterday.

The rulebo

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