Affin Islamic optimistic on securing 40pc share of Islamic banking in 2019
KUALA LUMPUR, April 7 — Affin Islamic Bank Bhd is optimistic on achieving a 40 per cent market share of the Islamic banking finance by 2019, mainly driven by the growth in its small and medium enterprises (SMEs) financing segment.
Head of Shariah Supervisory, Mohd Faiz Rahim, said the bank was also currently prioritising on ensuring that the transactions conducted at its branches were Shariah-compliant.
“We are currently focusing on growing the financing segments, particularly the SME sector. Last year, we managed to grow it by 80 per cent but it is still relatively small compared with our overall business banking and financing segment,” he told Bernama on the sidelines of the Malaysia International Halal Showcase 2018 (MIHAS 2018) here today.
To achieve the target, Mohd Faiz said, Affin Islamic has introduced several products which catered to the needs of the SMEs, including the CGC Portfolio Guarantee Scheme, where the bank has teamed up with the Credit Guarantee Corp Bhd (CGC) to facilitate the SMEs in securing financing from the bank.
“We started to focus on the SMEs last year, as we aimed to be at par with the industry level, where SME financing constitutes 50 per cent of the total business banking and financing segment,” he said.
MIHAS 2018, the world’s largest halal trade show, is held from April 4-7 at the Malaysia International Trade and Exhibition Centre.
This year, the event’s exhibitors space and number of exhibitors increased by 69.8 per cent and 51.5 per cent, respectively.
Meanwhile, the number of pre-registered visitors rose by 49.6 per cent and the number of buyers in its International Sourcing Programme increased by 10.3 per cent.
The event features products and services across seven industry sectors — food and beverages, pharmaceuticals, cosmetics, tourism, finance, logistics and e-commerce. — Bernama
Source: The Malay Mail Online