Malaysia On Track To Become International Islamic Financial Hub

Malaysia is on track to become an international Islamic financial hub, Deputy Finance Minister Datuk Ahmad Maslan said. He said according to the Bank Negara Annual Report, Malaysia was ranked second after Saudi Arabia in Islamic banking with the total Islamic financial assets reaching RM599.5 billion, financing (RM408.1 billion) and deposits (RM472.1 billion). Ahmad said Malaysia was also ranked second after Saudi Arabia in takaful (Islamic insurance), while in the global sukuk market, Malaysia was ranked first with the United Arab Emirates trailing in the second place.