Big demand for Islamic finance


Islamic banks’ profits are being hit by low interest rates, a still-subdued operating environment, and high provisioning costs, the rating agency said in a report.

KUALA LUMPUR: Strong demand for Islamic finance, which is growing faster than conventional banking, will partially offset the impact from the challenges being faced by the industry, said Moody’s Investors Service.

Islamic banks’ profits are being hit by low interest rates, a still-subdued operating environment, and high provisioning costs, the rating agency said in a report.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 53
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

Malaysia's economy on solid and stable footing despite global headwinds - Tengku Zafrul
Hiap Teck posts RM156.01mil net profit in FY22
Gadang secures RM188mil contract from Public Works Department
HSBC expects OPR to touch 3.5% by 1H 2023
Gamuda posts record net profit of RM806.23mil in FY22
Aeon Credit Service posts 2Q net profit of RM75.65mil
Bursa reverses earlier gains to end lower, KLCI drops below 1,400 mark
Asia File records 25% sales increase in FY22
ECB policymakers back another jumbo hike as inflation rises further
Porsche debuts with US$72bil price tag in bumper IPO

Others Also Read