In its Global Report on Islamic Finance published by the bank recently, it highlighted Malaysia as having the largest Islamic banking assets in the region with US$156.7 billion (RM697.15 billion) as at 2013. "The Middle East currently dominates the growth of Islamic banking globally. "The South and Southeast Asia region of which Malaysia belongs to, is ranked second globally for Islamic banking, with 15% of the market share," it said. The report said Islamic banking has gained momentum as a credible competitor to conventional banking. It currently focuses more on Islamic banking, capital markets and takaful.

Source: The Edge Markets February 23, 2017 05:48 UTC