Islamic Banking in Malaysia
Islamic Banking in Malaysia operates under the principles of Shariah, which prohibits interest (riba) and promotes ethical investments. It offers financial products that comply with Islamic law, such as profit-sharing and leasing arrangements. The sector has grown significantly, contributing to the country's economy and attracting both local and international investors.
The Central Bank of Malaysia regulates Islamic banks, ensuring they adhere to Shariah guidelines. Various Islamic financial institutions provide services like savings accounts, financing, and investment products, catering to the needs of both individuals and businesses. This system aims to promote financial inclusion and social justice within the community.