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November 18, 2008 15:14 PM
Islamic Banks May Consolidate In Five Years, Says Banker
KUALA LUMPUR, Nov 18 (Bernama) -- Islamic financial institutions in Malaysia are likely to consolidate in the next five years, Maybank Islamic Acting Chief Executive Officer Ibrahim Hassan said Tuesday.
He said the Islamic players were generally small in terms of capital and asset size and they need to consolidate to be on par with conventional players.
"I think there will be some consolidation in the Islamic finance industry (locally)," he said at the 5th Kuala Lumpur Islamic Finance Forum.
"Players are small in terms of capital and asset size and they need to consolidate to challenge counterparts in the conventional side," he told a session on Evaluating Issues and Challenges in Islamic Finance At The Time of Global Credit Crisis.
-- BERNAMA
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