Malaysia’s Islamic banks ripe for consolidation-Bank Muamalat
In the search for ways to deal with rising operational costs, Malaysia's Islamic banks are ready for consolidation. While in the past Islamic banks would rather not merge mainly because of resistance from powerful shareholders, now the development of megabanks would enable the issuance ground-breaking products just as conventional banks. This is made possible thanks to the rapid growth of Islamic finance - 23.7% of Malaysia's total banking assets belongs to the Islamic financial sector.
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