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The future is bright for Islamic banking in Asean
24 Jan 2022 | Monday Source: The Business Times
ASEAN is powering the global growth of Islamic banking, thanks to world-leading innovation and strong demand. The success of Islamic banking will help fuel the region’s economic development and enhance its position as an international finance centre.
The uncertainty of the past years has done little to dent the growth of Islamic finance - financial activities which adhere to Shariah or Islamic law. Globally, the value of Islamic financial assets increased 14 per cent year-on-year in 2020 to US$3.374 trillion and is projected to reach US$4.94 billion by 2025.
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