Today, Islamic banking is 22 percent of the national market and continuing to grow steadily. Malaysia has fostered the most complete and sophisticated environment for Islamic finance worldwide, with a clear agreement between government, regulator and central bank about what needs to be done to encourage it. The legal and regulatory environment is supportive, there are entrenched Islamic industries from banking to the capital markets, asset management and takaful (insurance), and today the focus is on bringing international Islamic capital into the country through the Malaysia International Islamic Financial Centre (MIFC).
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