Four agency groups are believed to have formed strategic alliances to pitch, among them Naga DDB and Interbrand, McCann Erickson and FutureBrand, Lowe and Landor Associates, and local agency Chimera.
MIFC is a collective of Malaysian financial regulators and Islamic banks. The body wants Malaysia to be recognised as a global centre for Islamic finance ahead of rival hubs such as Dubai, Bahrain, Hong Kong and Singapore.
MIFC is a collective of Malaysian financial regulators and Islamic banks. The body wants Malaysia to be recognised as a global centre for Islamic finance ahead of rival hubs such as Dubai, Bahrain, Hong Kong and Singapore.
The pitch focused on positioning and strategy, however no creative was involved. Agencies remain unsure when a winner will be announced. “Malaysia is in a strong position to corner the Islamic financial services markets, but it is up against ever stronger opposition from the likes of Bahrain and Dubai,” said the head of one of the agencies pitching for the business.
“The pitch is part of a strategic push to position Malaysia - with its Islamic heritage and culture - as the best possible centre for the industry.”
Islamic finance is no longer seen as a novelty sector within the financial services industry. It is increasingly competitive, with 300 Islamic financial institutions now operating in 75 countries globally.
