KUALA LUMPUR, March 2 2009 (Bernama) -- The country's Islamic banking system continued to expand last year where assets, deposits and financing recorded annual increase of 23 %, 26.9 % and 22.5 % respectively.
Deputy Finance Minister, Datuk Ahmad Husni Mohamad Hanadzlah said total Islamic banking assets as of to date stood at RM192.8 billion, deposits RM154.6 billion and financing RM104.6 billion.
The risk rated capital ratio meanwhile stood at 15.2 % and surplus capital was RM8.0 billion as at end of December last year an net non performing loans meanwhile declined to 2.4 %.
Ahmad Husni said that Bank Negara Malaysia had taken comprehensive steps to develop the country's Islamic financial sector to ensure that it continued to contribute to the country's economic growth. The sector is well supported by prudent and progressive legislation and regulations and governed by risk based regulatory functions in line with the conventional banking system, he said.
At the international level, Ahmad Husni said Malaysia played an active role in the setting of standards for financial institutions through the Islamic Financial Services Board.
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