Domestic Islamic finance growth this year is expected to be stable despite the uncertainties in the global and local economy, including the weakening of the ringgit, an expert said.
"At the end of the day, we do transactions based on the parameters that exist at any one time. If the currency is strong, Islamic finance will continue with it and if the currency is slightly weaker, it will still be done.
"Islamic finance will continue to grow very well in
He also expressed hope that more consumers will shift from conventional to Islamic finance as a result of the uncertainties and the benefits to Islamic finance customers, such as stamp duty exemption.
"Islamic finance provides very competitive products and services. Even if you put aside the incentives, it is still very attractive for consumers to do it and as a result, there will be more attraction, in terms of take-up," he added.
Badlisyah declined to comment on CIMB Islamic's target growth for Islamic finance this year, but based on current demand, he said Bank Negara's prediction of 15-20 per cent growth annually could easily be achieved.
The two-day conference starting today is organised by
The session topics -- divided into those that provide better understanding and those that raise competency levels -- are presented by top-notch academics, bankers and legal practitioners.
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