Islamic banking on track to make up 40% of Malaysia's banking sector assets

KUALA LUMPUR: Malaysia’s Islamic banking assets are on track to make up 40% of the country’s total banking sector assets by 2020 from about 25% now, said Standard Chartered Saadiq Bhd chief executive officer and global head of Standard Chartered’s Islamic consumer banking Wasim Saifi.

“The aspiration is that by 2020, Islamic banking assets will comprise 40% of the banking sector, from 24% to 25% now.