Islamic Banking and Finance (IBF): Development and It's Future Challenges in Malaysia

Islamic banking and finance has made a significant inroad in the international financial markets that have an achieved growing global awareness. The development of Islamic banking and finance is spread all over the world especially in muslin country. By looking at the Islamic financial infrastructure, the development of this industry in Malaysia is really robust and fast growing. The market has highly diversified players with the Islamic banks, investment banks, takaful companies, development financial institutions, savings institutions, fund management companies, stock brokers and unit trusts. The objective of this research paper is to provide an explanation about growth in Islamic banking and finance in Malaysia in term of its development and future challenges.

Hassanudin Bin Mohd Thas Thaker has completed his degree in Finance, HELP University, Malaysia and currently pursuing Postgraduate studies at International Islamic University Malaysia in the area of Applied Finance, He is currently working as an assistant lecturer at HELP University.