Malaysia's Islamic Banking Sector Continues to Expand Despite Pandemic

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.

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