S&P: Malaysia to continue leading Islamic banking growth in southeast Asia

KUALA LUMPUR: Malaysia is on track to continue leading the growth of Islamic banking in Southeast Asia, said S&P Global Ratings.

South and Southeast Asia associate director Nikita Anand said the Islamic banking growth in Southeast Asia is projected to grow at a compound annual rate of eight per cent over the next three years, while Malaysia’s Islamic banking sector is estimated to grow between six and eight per cent over the next five years.