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Malaysia banks on reforms to spur Islamic finance growth

Posted on 22 February 2013

Regulatory reforms are underway to help Malaysia’s Islamic banking industry expand further, but for government plans to succeed, they will need to be matched by action from some reluctant banks. The government originally aimed for 20 per cent market share for Islamic banks by 2010, but despite double-digit growth in both lending and assets, the sector has fallen shy of this mark.
Islamic banks have added RM111.6 billion in assets over the past two years, bringing their share of total banking assets in Malaysia to 19.6 per cent in December 2012, central bank data shows. Their share of loan business crossed the 20 per cent mark in January 2012, reaching 21.3 per cent last December………………………………….Full Article: Source

 
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