KUALA LUMPUR, Jan 10 (Bernama) -- National mortgage corporation, Cagamas Bhd, has signed an agreement with the International Syariah Research Academy(ISRA) to sponsor an Islamic financial market textbook.

In a statement Monday, Cagamas said the textbook, which was scheduled to be published later in the year, was part of its corporate social responsibility programme.

"Cagamas will also undertake reviews of selected chapters and provide references to its role in the development of Islamic capital market in Malaysia," it said.

Its chairman, Datuk Ooi Sang Kuang, said in view of the growing importance of Islamic finance in the global financial market, the textbook was expected to play a pivotal role in addressing the issue of the scarcity of literature in Islamic finance.

ISRA executive director, Associate Prof Mohamad Akram Laldin, said the textbook would encompass an overview and the development of the Islamic financial and capital markets, syariah principles, regulations as well as issues and challenges of the Islamic financial and capital markets.