Malaysia, Japan to Enhance Cooperation in Islamic Finance

Islamic Finance

CNA


Malaysia and Japan will enhance their cooperation in areas such as Islamic finance. Malaysian Prime Minister Najib Razak, who wrapped up his three-day visit to Japan, is supporting Japan’s foray into the Islamic market.

Many Japanese businesses are eager to learn and see how they can gain a piece of the pie in the growing market.

Mr Najib on Tuesday gave a keynote speech at the round table meeting of the World Islamic Economic Forum (WIEF) Foundation and Alliance Forum Foundation (AFF) in Tokyo – a forum to help link Japan and the Muslim world.

During his visit to Japan, he reached an agreement with his counterpart Shinzo Abe to enhance cooperation in areas such as the halal food industry and Islamic finance.

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11 reasons why Islamic finance is booming

 

islamic finance

1.Fast and Steady Growth

The Islamic financing industry is growing 50 per cent faster than conventional banking. As of 2011, the global asset value of the Islamic finance industry is estimated to be at US$1 trillion. The figure is expected to reach US$5 trillion over the next five years. Indeed, there is no stopping the fast growth of Islamic banking with Islamic banks setting up shop in countries under the Gulf Cooperation Council (GCC), Malaysia, the UK, and even in Africa along with many other regions.

2.Green Financing Platform

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