Four contest pitch to position Malaysia as Islamic financial hub

KUALA LUMPUR - The Malaysian International Islamic Financial Centre (MIFC) has held a strategy-led pitch as part of efforts to position Malaysia as a key Islamic financial centre.

Four agency groups are believed to have formed strategic alliances to pitch, among them Naga DDB and Interbrand, McCann and FutureBrand, Lowe and Landor Associates, and local agency Chimera.

The pitch focused on positioning and strategy, and creative work was not involved. Agencies are unsure when a winner will be announcement.

MIFC, which is a collective of Malaysian financial regulators and Islamic banks, wants Malaysia to be recognised as a global centre for Islamic finance ahead of rival hubs such as Dubai, Hong Kong and Singapore.

Islamic finance is an increasingly competitive sector, with 300 Islamic financial institutions now operating in 75 countries globally. The sector is recognised as one of the fastest-growing in the financial services industry.