Islamic family offices could help Malaysia attract wealthy investors

Marcus Baram
Author Marcus Baram
Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.
Sep 18, 2023
6 days ago
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Malaysia

Malaysia seeks to compete with Hong Kong and Singapore, which have become family office hubs in Asia. 

The government, through its Ministry of Finance and Securities Commission, recently announced that it is considering policies to attract wealthy investors seeking to set up family offices — to help the country finance small and midsize enterprises and stimulate the economy.

Malaysia has a huge opportunity to attract investments, especially from the Middle East, by developing the Islamic- or Shariah-compliant family office, Ausscar Financial Group Managing Director Sean Lee told SunBiz.

"We can leverage the Shariah or Islamic capital market that we have," Lee said. High-net-worth individuals or families who prefer the Islamic finance concept, he told the paper, "are able to set up their family office here and invest into Asia." 

Marcus Baram
Author Marcus Baram
Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.