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Malaysia’s Islamic fintech sector on the rise, set to hit US$12 billion by 2026

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Tan Ai Leng

Tan Ai Leng

Published Tue, Apr 4, 2023 · 06:41 PM
    • Malaysia’s favourable regulatory and business environment have bolstered the development of the country's Islamic fintech sector, say analysts.
    • Malaysia’s favourable regulatory and business environment have bolstered the development of the country's Islamic fintech sector, say analysts. PHOTO: BT FILE

    [KUALA LUMPUR] The chief executive of Malaysia Digital Economy Corporation – a government agency spearheading the economy’s digital transformation – is bullish about the future of the Islamic fintech sector as a key source of economic growth.

    Mahadhir Aziz said: “Leveraging Malaysia’s market dominance in Islamic finance and Islamic fintech, we have been successful in exporting Malaysian Islamic fintech solutions to international communities.”

    He noted that the government has been actively supporting efforts to strengthen Malaysia’s global standing in the Islamic fintech industry.

    MalaysiaFintechAseanAsean BusinessIslamic bankingSpotlight

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