KPMG in Malaysia (KPMG) and the Islamic Banking and Finance Institute Malaysia (IBFIM) have joined forces to drive the sustainability agenda for Malaysia’s Islamic Banking industry.
According to the Economic Outlook 2021 report published by the Finance Ministry (MoF), the Islamic banking industry in Malaysia has expanded with total assets valued at RM1.03 billion and a market share of 33% as at end July 2020.[1] Furthermore, Malaysia remains the biggest Islamic finance market in Southeast Asia and is expected to lead the global Islamic financial market in terms of sukuk issuance in 2021.[2]
The Islamic finance industry is well positioned to lead sustainable development as it can unlock finance across critical business value chains, thereby becoming a vital innovative financing modality to fill the SDGs funding gap.
KPMG’s collaboration with IBFIM aims to provide the crucial insight and guidance financial institutions in the Islamic Banking sector need to step up to the challenge.
Click on the tiles below to learn more about this collaboration and for deeper insights.
[1] Economic Outlook 2021 – Ministry of Finance
[2] Moody’s Investors Service cross-region Islamic finance outlook as reported in the New Straits Times
