Malaysia aims to boost Islamic finance with new initiatives in budget

Emblem of Malaysia, the Petronas Twin Towers

Malaysia is hoping new incentives for “ethical” Islamic bonds and home loans will strengthen the country’s sharia-compliant investment market and lure more private players to one of the world’s largest Islamic financial sectors.

The government announced the new incentives in the 2016 budget which was delivered in parliament on Friday, as Prime Minister Najib Razak doled out populist incentives to shore up support.

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