Islamic banking to remain resilient in 2022

Islamic banking is expected to remain resilient in 2022 and record growth in financing on the back of an improved economic environment and substantial public demand for Islamic products.

Fitch Ratings associate director for banks Priscilla Tjitra and Global head of Islamic Finance Bashar Al Natoor stated the sector’s growth will pick up modestly in 2022 as the economic recovery accelerates and asset quality becomes clearer after Covid-19 pandemic relief is unwound.

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