Islamic Banking

A young, tech-savvy population and a growing preference for ESG banking are amongst the reasons why Islamic Banks will take flight. 

The lack of available online banking options will be a dealbreaker for most.

The large untapped population in these regions and government support will drive long-term expansion.

Financial growth will drop but will remain higher due to Islamic banking expansion.

Sovereign sukuk issuance soared 39.2% on COVID-related budget pressures in H1.

All financing facilities based on BLR and BFR will be slashed 0.25%.

But Islamic banks are not expected to take significant market share in the medium term.

CIMB Group has pledged to invest $477m over the next five years to strengthen its digital platforms.

Islamic financing accounted for more than 24% of total financing in Bangladesh.

Government initiatives could boost halal economy and bolster demand for Islamic financial services.

Return on assets rose to 1.5% in 2018 from 0.8% in 2017.

Lenders are adopting the technology in Shariah compliant smart contracts.

Malaysia and Indonesia are still trailing behind their GCC peers.

Nine out of 27 banks have adopted the system.

Real estate treatment by lenders still reflect Basel II norms.

A bill seeking to organise such lenders has passed committee level.