Central Bank of Suriname Undertakes Study Visit to Malaysia on Islamic Finance

Kuala Lumpur, Malaysia, 17 May 2024 – A delegation from the Central Bank of Suriname (Centrale Bank van Suriname or CBvS) recently completed a successful study visit to Malaysia from May 13 to 17. Co-organized by the Islamic Development Bank Institute (IsDBI) through the Center of Excellence in Kuala Lumpur (KLCoE) and the International Shariah Research Academy for Islamic Finance (ISRA), the visit provided a comprehensive understanding of Islamic finance and its application in Malaysia.

The visit began with a refresher on Islamic finance and managing cybersecurity risks, conducted by the International Centre for Education in Islamic Finance (INCEIF) University. Sharia governance and financial reporting of Islamic financial institutions were also introduced.

The delegation also visited Maybank Islamic Berhad to understand its operations within the Maybank Group, risk management strategies, and sustainability initiatives. At Bank Islam Malaysia Berhad (BIMB), the visitors were exposed to the bank’s role as a full-fledged Islamic bank.

Insights into global standards were gained at the Islamic Financial Services Board (IFSB), and a visit to the Securities Commission (SC) Malaysia outlined the Islamic capital market framework. Bank Negara Malaysia (BNM) hosted sessions on sustainability initiatives and the supervision of Islamic financial institutions.

An appreciation dinner was held on May 16th and attended by Mr. Samer Elesawi, Head of Kuala Lumpur Centre of Excellence (KLCoE) and Dr. Muhammad Syahmi Mohd Karim, Deputy President Operations of INCEIF University, underscored the importance of the visit while strengthening ties between Suriname and Malaysia.