Sign up | Log in



Home  >>   Daily News  >>   Malaysia News  >>Finance  >> Malaysia on track to become international Islamic financial hub
NEW UPDATES Asean Affairs 12 December 2014  

Malaysia on track to become international Islamic financial hub

KUALA LUMPUR, Dec 11 (Bernama) -- Malaysia is on track to become an international Islamic financial hub following significant strides made in promoting the financial segment, Deputy Finance Minister Datuk Ahmad Maslan said.
He said according to the Bank Negara Annual Report, Malaysia was ranked second after Saudi Arabia in Islamic banking with the total Islamic financial assets reaching RM599.5 billion, financing (RM408.1 billion) and deposits (RM472.1 billion).
"The Islamic banking has grown to between 25 and 28 per cent of the market compared with conventional banking," he told a news conference at Parliament lobby here, Wednesday.
Ahmad said Malaysia was also ranked second after Saudi Arabia in takaful (Islamic insurance), registering RM4.7 billion or 13 per cent of the insurance market in the country.
"In the global sukuk market or Islamic bond, Malaysia was ranked first with the United Arab Emirates trailing in the second place.
"Malaysia has secured 58.7 per cent of the global sukuk worth RM537.2 billion. In other words, out of RM100 sukuk, RM58.70 was raised from Malaysia," he said.
Ahmad said Malaysia also topped the Islamic funds market followed by Saudi Arabia, second and Indonesia, third.
He said in the quest to cater to the needs of the Islamic banking and finance sector, the International Centre for Education in Islamic Finance (INCEIF) under the Ministry of Finance had produced 619 Islamic finance graduates since 2008. (BERNAMA)

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            December 12, 2014 Subsribe Now !
• Malaysia on track to become international Islamic financial hub Subcribe: Asean Affairs Global Magazine
• Malaysia on track to become international Islamic financial hub
• ASEAN-OECD Organise Second Investment Policy Conference to Support Regional Integration
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Energy reform needed in emerging markets
• VN targets 2020 industrial nation status
Asean Analysis                    December 9, 2014

• Asean Analysis December 9, 2014
IPEx Cleantech Asia Set Up to Capitalise on Multi-Billion Dollar Market in Asia
Advertise Your Brand

Asean Stock Watch    December  11,  2014
• Asean Stock Watch-December 11 , 2014
The Biweekly Update
• The Biweekly Update  November 28, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand