07.01.2013 - Economist gives top marks to Malaysia in Islamic finance
The Economist has given top marks to Malaysia’s progressive leadership in Islamic finance and in particular its dominance in Islamic bonds or sukuk. In a report entitled “Banking on the Ummah: Malaysia Leads Charge in Islamic Finance”, the noted financial magazine cited Malaysia as being the first country to issue the world’s first sovereign sukuk in 2002. The report said: “Of Malaysia’s claims to fame, leadership in financial services is not an obvious one. Yet in some ways the country is the world’s most important Islamic finance centre. “Just over a fifth of the country’s banking system, by assets, is Shariah-compliant; the average for Muslim countries is more like 12 per cent, and often a lot less...............................................Full Article: Source
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