Malaysia becomes base for ING Islamic funds unit

ING Funds will launch a new SharÆiah-compliant global Islamic funds unit in Malaysia during the first quarter of 2009. The new unit will sell SharÆiah-compliant funds to investors across the Asia-Pacific through ING Investment ManagementÆs 13 offices in the region. Key target markets for the new unit include China, Dubai and Hong Kong. ôWe are looking to export [SharÆiah-compliant funds] as the Malaysian market is not really big,ö says ING Funds chief executive officer Steve O…