Malaysia’s Islamic Banking Assets Climb to 20 Percent of Total

Islamic banking in Malaysia, the world’s biggest market for sukuk, rose 21 percent in the first seven months of 2010 from a year earlier, and accounted for 20 percent of the total, the government said in a report.
The Southeast Asian nation, where about 60 percent of the 27 million population are Muslim, lowered foreign-ownership limits in financial institutions in 2009 to attract more international investors. The central bank has issued Islamic licenses over the past year to global funds that include Aberdeen Asset Management Plc and Franklin Templeton Investments.