Malaysia to maintain pioneer role in Islamic banking sector

Malaysia is recognized as the "global leader in Islamic banking" sector which is enlarging rapidly worldwide, according to local media.

"We are seen as a pioneer in Islamic banking and we want to maintain that position," said Malaysian Deputy Finance Minister Amiruddin Hamzah.

"This sector is able to offer the best career opportunities and many of our graduates are in Islamic banking," Hamzah was quoted by Bernama news agency as saying.

Underlining that Malaysia has the capacity to strengthen Islamic banking sector and create huge employment opportunities, Hamzah said: "This 'takaful' [Islamic insurance] is not only for use in the country, but we are also planning to export the talent to be used in other countries."

Stressing rising worldwide importance of the sector, Hamzah added that even non-Muslim countries are struggling to position themselves as "global hubs" in the sector.