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| Source: OBG. |
"As a net capital exporter and investor in its own right, the country has made significant inroads in neighbouring Indonesia, Thailand, the Philippines and, most recently, Myanmar. This growth in cooperation points to ASEAN’s success in meeting some of its integration goals. Malaysian companies are most active in sectors such as banking, telecoms, palm oil, energy, construction and manufacturing. The push for integration within ASEAN is bearing fruit, with bottom-line numbers confirming that ASEAN is now Malaysia’s leading trading partner and export destination," states the OBG in the introduction to The Report: Malaysia 2016.
The report includes a chapter on financial services, including Islamic financial services. OBG notes that Malaysia is now reaping the benefits of being an early adopter of shari'ah-compliant financial systems, being a global leader in Islamic finance. "In the 23 years since commercial banks were allowed to offer Islamic banking products, the sector has emerged as a formidable force in providing funding to the Malaysian economy and beyond, creating additional high value at home and abroad," the OBG states in the chapter introduction.
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| Source: OBG infographic. |
The chapter includes interviews with Nor Shamsiah Mohd Yunus, Deputy Governor, Bank Negara Malaysia; Mahendra Gursahani, Managing Director and CEO, Standard Chartered Malaysia; and Jaseem Ahmed, Secretary-General, Islamic Financial Services Board.
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