Islamic liquidity facility set to open in first half of 2011

Bank Negara Malaysia governor Zeti Akhtar Aziz says she hopes International Islamic Liquidity Management Corporation will open for business by June

The International Islamic Liquidity Management Corporation, a new facility set up to create more liquid Islamic money markets, is expected to open by June, the governor of Bank Negara Malaysia on Tuesday said.

"We're in the process of establising the corporation. We're in the process of hiring the chief executive. We've already rented the premises and we're putting in place the staff. We hope very much that it will be operating in the first half of next year," Zeti said at the Global Islamic