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Malaysia: Commendable growth of Islamic finance

Posted on 22 March 2012

Malaysia made further progress as it Islamic financial system transitions to become an international Islamic financial centre, recording commendable growth despite the volatile international financial markets and uncertainties clouding the global economy.
Total assets in the Islamic banking sector increased by 23.8% to RM434.6bil to account for 22.4% of total banking system assets as at end-2011. The volume of Islamic foreign currency business conducted by international Islamic banks and international currency business units within licensed Islamic banks has also increased substantially over the years………………………………………..Full Article: Source

 
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