KUALA LUMPUR: Fresh stimulus to Islamic bond market has propelled Malaysia's inclusive and accessible capital market valued at US $816 billion or RM 2.5 trillion, equivalent to two-and-a-half times the country's Gross Domestic Product (GDP).
Prime Minister Najib Tun Razak said Malaysia's vibrant capital market was now equivalent to two-and-a-half times the country's current gross domestic product, according to Bernama report Tuesday.
Malaysia's bond market, worth US$314 billion or RM973 billion, has grown to become Asia's third largest relative to GDP and the largest unit trust industry in ASEAN, with a combined net asset value of US$102 billion or RM316 billion.
Malaysia's sukuk market accounts for almost 70 percent of the global total and home to the world's largest Islamic unit trust industry, he said.
Najib, who is also Finance Minister said the rise of a vibrant capital market over the last 20 years in line with Malaysia's economy that is more open, competitive and better integrated with global markets, has enabled savings to be more efficiently mobilised and utilised for capital. (QNA)