Sabah: Islamic banking expands

Sabah’s state banks have been positively assessed which results in rising confidence about the potential of its financial services sector and Islamic finance in particular. The “AA1” and “P1” issue ratings of the corporation have been reaffirmed by RAM Ratings in July. A month prior to that, Sabah Development Bank (SDB) received long- and short-term issue ratings of “AA1” and “P1”. All in all, a stable outlook and a leading strategic role of the Corporation are pointed out.

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