The estimated value of total Islamic finance assets was RM 783 billion in 2017, representing an increase of 9.5 per cent for the first seven months of 2017(News Straits Times, 2017). Malaysia practices a dual banking system comprising conventional and Islamic types. However, many financial and banking products do not fulfil Islamic law or Maqasid Al-Shariah.

Explain five (5) reasons why these issues happened.

Answer rating: 100% (QA)

There are several reasons why issues exist in Islamic finance and banking products in Malaysia 1 Lac... View the full answer