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Stable outlook for Islamic banking industry

30 Mar 2022 | Wednesday Source: The Star

RAM Ratings has maintained its stable outlook on the country’s Islamic banking industry as it expects the industry to stay resilient despite lingering risks from Covid-19, Bernama reported.

In a statement yesterday, RAM said the industry is poised to continue leading efforts towards a wider adoption of value-based intermediation (VBI).

“An increased focus on Islamic sustainable finance has created new opportunities, enabling banks to build on their existing value-based practices and solutions to strengthen the impact of VBI.

“This puts Islamic banks in a good position to meet the requirements of Bank Negara’s Climate Risk Management and Scenario Analysis, effective June 1, 2022,” it said.

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