Maybank Islamic eyes financing to grow above 18%

CEO positive Islamic financing's rising trend to continue as zakat payment grew 38% from past FY.

Maybank Islamic expects its financing to record more than 18 per cent growth for the financial year ending June 30, 2010 in line with an improved economic environment.

"Our Islamic financing traditionally has been growing at double the rate of conventional growth. We expect the trend to continue," Maybank President and Chief Executive Officer Datuk Seri Abdul Wahid Omar told reporters after Maybank Islamic's zakat payment ceremony here on Monday.

For the first six months of the current financial year which will end June 30, 2010, Maybank Islamic posted a growth of 18 per cent for financing and 15 per cent for deposit.

At the ceremony on Monday, Maybank Islamic made zakat payments for the 2009 financial year amounting to RM5.01 million ($1.56 million) to several state zakat centres as well as welfare bodies in the country.

View the full story in Bernama.