Islamic finance domestic growth intact

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The exit of foreign backed Islamic lender Kuwait Finance House (M) Bhd from the local banking scene does not indicate an oversaturation in the domestic Islamic banking sector, says Malaysia International Islamic Financial Centre Leadership Council chairman Tan Sri Azman Mokhtar.

If we can continue to work on syariah-compliant Islamic instruments resulting in indirect listing of the syariah-compliant businesses, I think that will all go well.

Azman said the Islamic banking system has grown by a compounded annual growth rate of over 11% for the last 20 to 30 years.

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Article Details

Author / Journalist: ELIM POON

Category: EconomyBusiness

Markets: MalaysiaKuwait

Topics: Banking SyariahFinance MalaysiaEconomy IslamicBanking MaqasidShariah IslamicFinanceGrowth /Business/Business News SukukMarket

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-16 @ 00:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 688 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 43 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22089173

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 48 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #22

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