Malaysia’s Islamic Financial Sector to Reach MYR 3 Trillion in 2020: Bursa Chairman

The Islamic finance sector in Malaysia is anticipated to maintain double-digit growth and hit approximately MYR 3 trillion in 2020 under the second Capital Market Masterplan, according to Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia (Bursa).

Delivering the keynote address at the Shariah Investing Virtual Conference 2020 held on 17th June 2020, Abdul Wahid stated that Malaysia’s Islamic funds industry had shown impressive growth. As of March 2020, Shariah funds stood at MYR 170 billion and represented 23% of total industry asset under management (AUM). Meanwhile, Shariah unit trust fund’s net asset value (NAV) was MYR 99 billion, which made up 23% of the total industry NAV.

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