The CMDF is a trust fund, whose purpose is to support the development of the Malaysian capital market.
The CMDF creates value through the support and funding of the right projects. These would be projects and initiatives that could demonstrate measurable value, such as by addressing or closing gaps within the Malaysian capital market.
The CMDF has four statutory objectives, which are:
- To promote and develop the Malaysian capital market to be efficient, innovative and internationally competitive;
- To develop and upgrade skills and expertise required by the Malaysian capital market;
- To develop and support high quality research and development programs and projects relating to the Malaysian capital market; and
- To develop self-regulation of professional associations and market bodies.
In addition, the CMDF Board, in its evaluation of submissions, would also consider whether the projects are:
- In line with national agenda;
- Relevant to meet the needs and priorities of a developing capital market; and
- Have a significant impact on the overall capital market.
The CMDF has also aligned itself with the key thrusts of the capital market moving forward, as outlined by Phase 3 of the Capital Market Masterplan.
This is both a strategic and timely move: strategic, because Phase 3 of the Capital Market Masterplan has been aligned to the 9th Malaysia Plan and timely, as both plans are now running concurrently.
The key thrusts of Phase 3 of the Capital Market Masterplan are:
- To enhance the overall quality of the market
- To enhance the vibrancy and growth of the market
- To enhance the international competitiveness if the market
The CMDF will prioritise projects that are in line with these key thrusts. This will enable industry to identify and develop projects that would address specific gaps and needs, and which would have a positive impact on meeting the broader needs of the overall capital market. Further, such projects are expected to fall within one of the four broad objectives of the CMDF.
With the above as the underlying philosophy, the CMDF hopes that any project it funds would assist in closing a gap and would benefit a wide segment of the market.
The CMDF encourages submissions from industry on projects that are in line with the above.
In The News
01 Nov 13
The central banks of Malaysia and the United Arab Emirates (UAE) are working on a fund passporting mechanism that would facilitate sales of funds from one country to the other, Bank Negara Malaysia governor said. The plan is part of a bilateral agreement signed earlier this month between the central banks of the two countries, aimed at building closer economic ties with a focus on Islamic Finance.
01 Nov 13
The Islamic Banking and Finance Institute Malaysia (IBFIM), the first training provider in Malaysia accredited by the Finance Accreditation Agency (FAA), is gearing to move forward with improvements in its modules to meet industry demands. Strengthened with the accreditation, IBFIM expects a wider market reach in various jurisdictions, it’s COO and head of talent development, Mohamad Najib Shaharuddin said. “As we speak, we are continuously improving our modules to meet the ever changing needs of the industry and the FAA accreditation provides the first kind of global benchmarking of professional qualifications in Islamic finance,” Mohamad Najib said
30 Oct 13
Malaysia has for the first time joined the ranks of the top 10 countries that are most friendly to doing business among 189 economies polled by the World Bank in its annual Doing Business Report 2014. The country has leapt to No 6 from 12th
last year in the World Bank’s latest report. The ranking puts Malaysia ahead of developed countries such as the UK, Taiwan, Canada, Australia and South Korea. Chief secretary to the government Tan Sri Dr Ali Hamsa said this was an achievement that puts Malaysia in the same league as Singapore, Hong Kong and the US. “Malaysia has achieved this target well ahead of 2015,” Ali Hamsa said.
30 Oct 13
The Labuan International Business and Financial Centre (IBFC) is aiming to attract greater interest from high net worth individuals from the Asia Pacific for its wealth management business. Chief Executive Officer Saiful Bahari Baharom said IBFC's wealth management business had also gained growth traction this year among wealthy individual Malaysians
30 Oct 13
The Budget 2014 was announced by Prime Minister Datuk Seri Mohd Najib Razak, and reference and allocation to socially responsible investment (SRI) sukuk and Environmental, Social and Governance (ESG) index are indeed welcomed and forward looking for developments. It not only shows Malaysia’s leadership in the capital markets for the (56 countries) Muslim world, the Organisation of Islamic Cooperation, but, more importantly, the announcements are also building bridges to the (post financial crisis) ethical and responsible movements in Europe and US, estimated at US$2.2 trillion (RM6.82 trillion). I hope we will see the following blueprint, in both areas, in the next few months. The only disappointment was the lack of direction on the halal industry, as Malaysia also positioned itself as a halal hub. The conversation surrounding halal industry in Malaysia must be taken to the next level as (resurging) Dubai has made a commitment to an Islamic economy, where one leg of it is the halal industry.