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Malaysia: Islamic banking shines

Posted on 12 March 2013

Malaysia proves its worth as a global model for a modern and dynamic industry. Malaysia has succeeded in developing a vibrant and modern Islamic banking and financial industry over the last three decades.
The Islamic Banking Act, which came into force in 1983, had paved the way for the nation to develop a vibrant and modern Islamic banking and financial industry. Initially, the industry served as an alternative channel for Muslims to perform banking and financial transactions in accordance with Islamic practices, and thus, avoid practices that have elements of oppression that are prohibited by Islam………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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