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Overall, the Islamic banking will continue to grow in Southeast Asia. The demand for Islamic banking has increased due to some factors, such as digital transformation, invest awareness, and the growth rate of Muslims. In addition, there are many differences between Islamic bank and traditional bank, some of which may be more suitable for the needs of customers, so Islamic banking can also be widely used in the development of non-Muslims.

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The chart shows the estimate growth rate for Muslim aged 24-54 years old

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The chart shows the estimate growth rate for Muslim aged 24-54 years old

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This chart shows that three of them belong Southeast Asia countries, such as Malaysia, Indonesia, Brunei. This shows that Islamic banks are indeed on the rise in Southeast Asia.

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The one who with digital licenses in Malaysia promote and expand Islamic financial product (eg: product in the area of sustainability) in Islamic society of Malaysia.

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Malaysia and Indonesia have found that opportunities for growth and invested in potentially sustainable areas

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The upward trend affecting Islamic banking also include digitization. The innovative transformation of Islamic banking will attract people to understand Islamic financing.

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In 2017, Malaysia released the world’s first green Sukuk.

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In the ESG ecosystem, Malaysia’s ESG ecosystem is one of the most developed ecosystem.

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There are Indonesian government, the Islamic Development Bank and Malaysian Business.

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According to Refinitiv, the Sukuk income raised in Southeast Asia from July 2021 to June this year was $21.6 billion.

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In 2020, Sukuk issued 42 percent of the total bonds in Southeast Asia, attesting to the demand in Southeast Asia market.

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Islamic bond is a potentially growing product, also known as Sukuk.

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Islamic finance formulates core principles based on Sharia law, such as alcohol, cigarettes, gambling, high risks and harmful practices strictly appear in Islamic financing.

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Integration of Islamic banking into life

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Integration of Islamic banking into life

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Nowadays, Islamic banking combines ESG and Sharia principles, establishes a values-based transactions business models in line with today’s society.

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Islamic banking to continue seeing growth in South-east Asia

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Islamic banking to continue seeing growth in South-east Asia

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Southeast Asia have a quarter of the global Muslims, so about 25 percent of Islamic financing will in Southeast Asia.

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Not only Muslims need the Islamic banking, but also non-Muslims. So, this is also the reason of the increase of the Islamic banking.

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The number of Muslim in Southeast Asia exceeds 240 million, accounting for 42 percent of population of Southeast Asia. Also, Muslim in Southeast Asia exceeds about 25 percent of 16 billion Muslim in the world.

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Islam is the official religion of Malaysia and Brunei.

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Muslims in Southeast Asia are distributed in various countries, such as Malaysia, Brunei, Thailand, Philippines, Cambodia, Singapore, Laos, Vietnam, Myanmar and Indonesia.

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Increased demand from the Islamic banking

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Increased demand from the Islamic banking

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With the development of economic and technology, propel have gradually begun to learn about investment, which has led to an increase in demand of the Islamic banking.

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People have a sense of investment under the influence of the environment, society, and governance.