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Affin Islamic optimistic on securing 40 pct share of Islamic banking in 2019
Last update: 07/04/2018

By Zarul Effendi Razali

KUALA LUMPUR, April 7 (Bernama) -- Affin Islamic Bank Bhd is optimistic on achieving a†40 per cent market share of the Islamic banking finance by 2019, mainly driven by the growth in its†small and medium enterprises (SMEs) financing segment.

Head of Shariah Supervisory, Mohd Faiz Rahim, said the bank was also currently prioritising on ensuring that the†transactions conducted at its branches were Shariah-compliant.

"We are currently†focusing on†growing the financing segments, particularly the SME†sector. Last year, we managed to grow it by 80 per cent but it†is still relatively small compared†with our overall business banking and financing segment,"†he told Bernama on the sidelines of the Malaysia International Halal Showcase†2018 (MIHAS†2018) here today.

To achieve†the target, Mohd Faiz said,†Affin Islamic has†introduced several products which catered†to the needs of the SMEs,†including the CGC Portfolio Guarantee Scheme, where the bank has†teamed up with the Credit Guarantee Corp Bhd (CGC) to facilitate the†SMEs†in securing financing from the bank.

"We started to focus on the SMEs last year, as we aimed to be at par with the industry†level, where SME financing constitutes†50 per cent of the total business banking and financing segment" he said.

MIHAS†2018, the world's largest halal trade show, is held from April 4-7 at the†Malaysia International Trade and Exhibition Centre.

This year,†the event's exhibitors space and number of exhibitors increased†by†69.8 per cent and 51.5 per cent, respectively.

Meanwhile, the†number of pre-registered visitors rose†by 49.6 per cent and the number of buyers in its International Sourcing Programme increased by 10.3 per cent.

The event features†products and services across seven industry sectors --†food and beverages, pharmaceuticals, cosmetics, tourism, finance, logistics and e-commerce.

-- BERNAMA

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Source: Bank Negara Malaysia

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