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Tuesday, 3 March 2009

Malaysia: Islamic Banking Assets Up 23 Percent

KUALA LUMPUR, March 2 (Bernama) -- The country's Islamic banking system continued to expand last year where assets, deposits and financing recorded annual increase of 23 percent, 26.9 percent and 22.5 percent respectively.

Deputy Finance Minister, Datuk Ahmad Husni Mohamad Hanadzlah said total Islamic banking assets as of to date stood at RM192.8 billion, deposits RM154.6 billion and financing RM104.6 billion.

The risk rated capital ratio meanwhile stood at 15.2 percent and surplus capital was RM8.0 billion as at end of December last year.

Net non performing loans meanwhile declined to 2.4 percent, he said in reply to a question from Dr Dzulkefly Ahmad (PAS-Kuala Selangor) during the question and answer session at the Dewan Rakyat sitting in Parliament Monday.

Dr Dzulkefly wanted to know the measures taken to ensure that Islamic financial and banking system remained resilient and capable of countering the ongoing global financial crisis.

Ahmad Husni said that Bank Negara Malaysia had taken comprehensive steps to develop the country's Islamic financial sector to ensure that it continued to contribute to the country's economic growth.

The sector is well supported by prudent and progressive legislation and regulations and governed by risk based regulatory functions in line with the conventional banking system, he said.

At the international level, Ahmad Husni said Malaysia played an active role in the setting of standards for financial institutions through the Islamic Financial Services Board.

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