Malaysia in the forefont of Islamic banking

OXFORD: Malaysia is set to clinch 25 per cent of global transactions in Islamic banking within the next decade from less than 10 per cent currently, Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop said.

He said Malaysia would be attractive because it was the only country having a complete value chain of Islamic financing with Islamic and conventional banking both operating in the mainstream financial services landscape.

Malaysia in the forefont of Islamic banking

“There is great potential and if we do it right, we should be able to achieve that,” he told a press conference at the Inaugural Oxford Global Islamic Branding and Marketing Forum here Monday.

He said Islamic finance companies in Malaysia should produce more products in view of their experience in creating truly genuine Islamic financial products. Continue reading