Bank Muamalat headquarters in Kuala Lumpur.
ISLAMIC banks could experience a potential spike in operating costs and see further pressure on net interest margins (NIM) once they comply with Bank Negara’s move to reclassify Islamic deposits as either principal guaranteed or investment accounts.
Islamic banks or conventional banks with Islamic banking subsidiaries are given until June 30 next year to comply with this requirement under the Islamic Financial Services Act (IFSA) 2013.
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