MADINAH, Feb 26 (NNN-Bernama) -- Deputy Prime Minister Datuk Seri Najib Tun Razak said interest shown by West Asian investors on Malaysia's Islamic banking has been on the increase with the latest coming from Bahrain.
"I was made to understand that Bahrain too is keen to invest in Islamic banking in Malaysia," he said during a question and answer session at a dinner with Malaysian students, here Sunday.
Under the liberalisation of Malaysia's Islamic banking, the government had in 2004 awarded three licences to West Asian investors to operate Islamic banks.
Two of the licences were held by Kuwait Finance House (KFH) and Al Rajhi Banking and Investment Corp from Saudi Arabia, both of which have started their operations.
The third licence was given to a consortium of Islamic financial institution represented by Qatar Islamic Bank Inc and Global Investment House.
"The interest shown by the Bahrani investors in addition to the aggressive stance shown by KFH particularly in taking over RHB Bank plus plans by Al Rajhi Bank to open 50 outlets in the future is an encouraging sign," he told Malaysian students of Madinah Islamic University.
He also said that Malaysia could start a new wave of capturing some market share in West Asia. -- NNN-BERNAMA