View this email in your browser
Salam and greetings from MIFC!

In Islamic finance, compliance with Shariah requirements is a prerequisite for ensuring the legitimacy of Islamic financial products and services. Therefore, in this month’s epicentre, the MIFC Team produced an infographic on Shariah-based Contract Regulatory Framework which highlights various underlying principles of Shariah contracts for your reference and understanding. Apart from the usual round-up of exciting news in the world of Islamic finance, the newsletter also features annual reports of Malaysian financial regulators including Bank Negara Malaysia that reported positive growth of Malaysia's Islamic finance in 2018 and Securities Commission Malaysia highlighted that Malaysia remained as a global leader in the Islamic capital market.

The MIFC Team
Shariah-based Contract Regulatory Framework
Read More
Interested to know more about Shariah rulings? Click here.

Islamic finance charts positive growth in 2018

Bank Negara Malaysia's 2018 Financial Stability and Payment Systems Report highlighted that Malaysia's Islamic finance sector continued to chart positive growth in 2018, with Shariah-compliant financing from Islamic banks growing by 10.5% to account for a higher share of 36.6% of total banking sector financing. 
Read More on Page 47

Malaysia remained a global leader in the Islamic capital market 

Securities Commission Malaysia (SC), in its Annual Report 2018 indicated that Malaysia remained a global leader in the Islamic capital market (ICM) with RM1.9 trillion in Shariah-compliant equities and sukuk outstanding. Malaysia also continued to be the world’s largest sukuk market.
Read More on Page 162

Islamic banking business continued to grow

The Labuan International Business and Financial Centre (Labuan IBFC) reported that Islamic banking sector posted a 2.4% growth in assets from the expansion of total financing in its Market Report 2018.
Read More on Page 23

Islamic banks still anchoring growth of Malaysian banking sector

RAM Ratings’ Islamic Banking Insight, reveals that Islamic financing is still anchoring the growth of the overall Malaysian banking sector. Islamic banking continued to expand at a much faster pace than conventional loans in 2018, coming in at 11.0% (2017: 10.3%), in contrast to the latter’s 3.3% growth. As at end-January 2019, Islamic financing comprised some 32% of the overall system’s loans. 

Read More
Let's participate in our survey which will only take 2 minutes of your time. Your feedback is important to us as we continue to improve and enhance your reading experience.
Let's do it now!

Strengthening Shariah Compliance Risk Culture 

The effective management of Shariah non-compliance risk is paramount, especially with the growing significance of Islamic finance as a key component of the financial system.
Read More

Journey on Sustainable Path 

The International Centre for Education in Islamic Finance (“INCEIF”) constantly engages with its stakeholders to continuously contribute to United Nation’s Sustainable Development Goals (SDGs). 
Read More

Malaysian takaful: Resilient growth amid evolving operating landscape

RAM Ratings has a stable outlook on the Malaysian takaful industry for 2019. With the progressive impact of tariff liberalisation and moderating economic growth, general takaful contributions are expected to expand at a slower 6% - 7% pace.
Read More

Domestic asset management industry key to Malaysia’s dominance in Islamic finance

Malaysia’s Islamic asset management industry has played a complementary role in the globalization of the country’s Islamic finance industry
Read More
Islamic Finance Library
Islamic Finance Dashboard
Calendar of Events
Kuala Lumpur Islamic Finance Forum
Date: 9-11 April 2019
Venue: Kuala Lumpur, Malaysia

For more information please click here

IFN Asia Forum
Date: 23-24 April 2019
Venue: Kuala Lumpur, Malaysia
Other News
  1. Dana Gas repurchases USD133 million sukuk
  2. Saudi Arabia extends domestic debt curve with new sukuk issue
  3. HDC signs MoU with Korean agency to enhance halal bilateral trade, investment
  4. Qatar Launches World's Largest Energy Bank with USD10 billion Capital
  5. Russia’s Sberbank eyes Islamic banking opportunities
  6. Indonesia raises USD1.49 billlon rupiah from retail sukuk - govt
  7. Islamic insurance could benefit from Shariah standardization
If you have enjoyed this issue of Epicentre or found it useful, feel free to forward it to a colleague or friend. If this newsletter was forwarded to you, and you would like to be added to the mailing list, subscribe here
Copyright © 2018 Bank Negara Malaysia. All rights reserved.
Please log on to for more information. 

DISCLAIMER: The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.