Maybank Islamic Still Sees Strong And Robust Growth

SHAH ALAM, March 19 (Bernama) -- Maybank Islamic Bhd is still experiencing strong and robust growth in its operations due to an increasing acceptance in the use of Islamic financial services in this country, said its Chief Executive Officer, Ibrahim Hassan.
"Islamic banking is growing at robust rate. In the eight months of the financial year ending June 30, 2010, Maybank Islamic posted an annualised financial growth of 36 per cent and annualised deposit growth of 32 per cent," he told a press conference after handing over RM300,000 to the Lembaga Zakat Selangor (LZS) here on Friday.
The money is for its financial year 2009 zakat payment.
According to Ibrahim, with such an expansion and growth in business, the company expects to pay more zakat for its financial year ending June 2010.
He said in the financial year ended June 30, 2009, the company allocated RM5 million for zakat payment, a RM1.4 million increase from 2008.
Such an increase, he added, is in line with the growth of Maybank Islamic's business in terms of financing and deposits.
Ibrahim handed over the zakat payment to LZS General Manager, Ahmad Shahir Makhtar, witnessed by Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim and Maybank Group President and Chief Executive Officer, Datuk Seri Abdul Wahid Omar. -- BERNAMA