Islamic Finance: Efforts to boost Islamic banking sector paying off (Part 1)
The enforcement of the Islamic Financial Services Act by Bank Negara Malaysia in June to distinguish between deposit and investment accounts offered by Islamic banks will pave the way for the introduction of new retail products. The development of the Islamic finance sector in Malaysia has enjoyed the support of the government, which has announced the RM150 million Investment Account Platform under Budget 2015. The platform, which is slated to start on Sept 1, is a shariah-compliant investment product designed to attract institutions and individuals to invest in the country's Islamic financial markets.
Syndicate
