null Malaysia's Islamic Banking Sector Continues to Expand Despite Pandemic
Malaysia's Islamic Banking Sector Continues to Expand Despite Pandemic
2 Mar 2021 | Tuesday Source: Fitch Ratings
Malaysia's Islamic banking sector continued to expand amid economic challenges from the coronavirus pandemic, says Fitch Ratings.
The share of Islamic financing in the banking system reached 37% by end-2020 (end-2019: 35%), with Islamic financing contributing nearly all of the banking sector's growth in 2020, driven by household financing and banks that promoted Islamic products as part of the "Islamic First" strategy.