Chris Bowen meets with the Malaysian PM

Chris Bowen, the Minister for Financial Services, Superannuation, and Corporate Law met with the Malaysian Prime Minister, Dato' Sri Mohd Najib bin Tun Abdul Razak in Kuala Lumpur on May 19th to discuss issues of mutual interest between Australia and Malaysia, including financial services and greater economic cross-border flows in the Asia-Pacific region. Bowen also represented the Australia Government at the 6th World Islamic Economic Forum that was held in Kuala Lumpur.

Bowen participated in a leadership panel at the Forum around the forward-looking theme of this year's program, 'Gearing for Economic Resurgence'. The WIEF is a public-private sector dialogue addressing the economic issues facing Muslims and non-Muslims; and plays an increasingly important role in enhancing understanding and goodwill among nations.

He also had a bilateral meeting with the Governor of Bank Negara Malaysia, Dr. Zeti, to discuss the collaborative partnership between Australia and Malaysia, and the further strengthening of the inter-linkages and commercial opportunities between the two countries. Islamic finance has an important part to play in the Government's efforts to grow the contribution of the financial services sector to our economy. The Islamic finance, banking and insurance market is worth almost $1 trillion and is estimated to reach as much as $5 trillion in coming years, according to Moody's Investor Services.