( idma ) recognising the importance to develop islamic hedging products for islamic financial market to mitigate investment risks, malaysia has introduced the first global islamic derivative master agreement to document islamic derivative transactions. the effort is initiated by bank negara malaysia and driven by the financial industry via the persatuan pasaran kewangan malaysia. the implementation of the agreement is expected to improve the risk management practices, balance sheet management, increase fund mobilisation efficiency and enhance their investment banking capability of the islamic banking institutions. with the introduction of idma, the rights and obligations of contracting parties are clearly stated, thus creating an environment that is more transparent. as idma also incorporates best practices in market conduct, this document serves as an important catalyst for the future linkages between financial markets that offer islamic financial market instruments. extending the new silk road to the world ladies and gentlemen, while the new silk road is enhancing linkages between asia and the middle east, both regions have always extended the silk road to the rest of the world to participate in the these exciting developments on this route. indeed, global investors and the international financial community are already drawing the benefits from the increased diversification of asset classes while riding on the dynamism of the two regions. as islamic finance expands further, reinforced by the activities on the new silk road, there will be greater convergence towards ethical or socially responsible - type of investments ( sri ) in the global financial community. islamic investment guidelines share significant similarities with the sri principles. the focus of islamic investment not only involves the avoidance of riba - free activities but also extends to include issues related to ethical values, such as fair trade and environmental protection. furthermore, the prospects of increased stability for financing flows and the focus on the role of real sector economic activities have ignited interest in utilising islamic finance for sustainable development. this overwhelming gathering of so many issuers and investors here today provides some indication of the growing interest in islamic finance, reinforcing the potential increased activity on the new silk road. we all have a part in the making of the new silk road into a vibrant source of wealth and prosperity in the global economy. in closing, malaysia is committed to be part of the new silk road to facilitate greater cross border economic and financial flows for increased inter - regional trade and investment transactions. insyaallah, the greater inter - regional economic and financial linkages would bring greater benefits which will be mutually reinforcing and contribute towards raising the prospects for

group in asia is estimated to be increasing at 7 % per year, second only to those in the middle east, numbering 300, 000 and growing at 9 % per year. traditionally, investors in asia and the middle east have looked to the developed western markets to meet their investment needs, in view of the more developed financial markets and the range of asset classes. increasingly however, there is growing interest and search for improved returns on investment in other parts of the world. this has been a global phenomenon for some years now, characterised by excess liquidity and low yields in the traditional markets. the new silk road creates linkages that build on the comparative advantages between asia and the middle east ladies and gentlemen, historically, trade and investment in asia and the middle east has been linked to the developed economies. however, it is now increasingly recognised that there are significant complementarities between our two dynamic regions. these complementarities provide a platform for two - way flows that enhances income and wealth creation. the different demand patterns of each respective region reinforces the significance of the complementarities. the middle east investors have a greater need for diversification, both in terms of geographical allocation and asset classes, beyond the traditional investments in the us and europe. asia in turn, the home to some of the fastest growing economies in the world, offers highly diverse investment opportunities, ranging from in vietnam to japan, and in a broad scope of industries, ranging from natural resource producers to established high - tech brands. such investment opportunities continue to support the growth momentum in the region. at the same time, middle east domestic infrastructure requirements are estimated to total usd500 billion for the next five years, and asian companies have demonstrated the capacity to provide the technology, expertise and human capital to meet these infrastructure demands. asia's relentless march towards development offers new opportunities for the middle east. asia's continued need for productive capital and uninterrupted energy supply to sustain its high growth matches the middle east's resource endowments. it is estimated that asia needs usd 1 trillion worth of infrastructure investment over the next five years, and is in search of new partnerships and strategic investors to co - invest in these undertakings. in focussing on the respective comparative advantages and connecting via the new silk road, it contributes to expanding the opportunities in both the regions. essentially, this extends the production possibility frontiers to create new areas of growth. the participation of a wider pool of investors also enables better risk sharing and consequently, increases