More Islamic banks for Malaysia

Malaysia
Bank Islam Malaysia, Bank Muamalat
Business Development & Expansion

(Malaysia) – The Malaysian Government says it will allow foreigners to establish Islamic based banks in the country as it attempts to build up the Islamic economy.Malaysia currently has two Islamic banks – Bank Muamalat and Bank Islam Malaysia – while three commercial banks provide Islamic style bank services through 2000 branches.

Non-bank financial institutions are also starting to offer Islamic services.

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