KUALA LUMPUR: Malaysia can expect half of its banking assets to be Islamic by 2030 as the industry’s growth outpaces conventional banking, according to a lenders’ association.
Loans that comply with the religion’s ban on interest is set to increase by 10% to 15% annually over the next five years, outpacing the 5% to 7% growth seen for non-Islamic loans, said Adissadikin Ali, president of the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM).
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