ISLAMIC BANKING | Tony Chua, Malaysia

Maybank Islamic eyes steady contribution from asset financing to parent

27% of Maybank Group's total loan and advances come from its Islamic unit.

Maybank Islamic Bhd expects its contribution from asset financing to the Maybank Group in the current financial year to be consistent with the previous year.

Its chief executive officer Muzaffar Hisham said almost one third of the Maybank Group's asset financing in Malaysia came from Islamic assets in the last financial year ended June 30, 2011.

"This financial year will be shorter, about six months because we're changing our financial year-end. It should be within the range. I won't expect much changes because we are looking at much shorter financial year," he told reporters on the sidelines of the Eighth Kuala Lumpur Islamic Finance Forum here Tuesday.

Currently 27 per cent of Maybank Group's total loan and advances come from Islamic banking.

View the full story in Bernama <> 

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