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Malaysia's new GST tax to slow mortgages

Mortgages that complied with Islam's ban on interest climbed 24 per cent in 2014 to RM76.8 billion, central bank data showed. That's down from 29.7 per cent growth in 2013.

Kuala Lumpur

GROWTH in Malaysia's Islamic home loans is forecast by banks to slow from the weakest pace since 2007 as a new tax dampens housing demand.

AmInvestment Bank Bhd and CIMB Islamic Bank Bhd forecast the mortgage market will cool, just as tighter capital rules make lenders