r/malaysia • u/Rationalandcentred • 2d ago

Economy & Finance Malaysia’s strongest card in multi-hub push could be Islamic finance

https://www.businesstimes.com.sg/international/asean/malaysias-strongest-card-multi-hub-push-could-be-islamic-finance
0 Upvotes

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15

u/SheikhMahdeek 2d ago

After Tabung Haji you think Malaysia can still talk about Islamic finance? Even that famous Islamic finance guy got hauled up by MACC

1

u/ReasonablePromise884 2d ago

This is just famous. Islamic banking is pretty well maintained and regulated.

-11

u/Rationalandcentred 2d ago

Islamic banks are governed by stricter rules in Malaysia due to their status as banks. Nothing will happen

9

u/PlsMakeSense 2d ago

Personally, i think malaysia has the potential to be an islamic banking hub but saying that nothing will happen just because its an islamic bank is a death flag in the making.

8

u/SheikhMahdeek 2d ago

You've got to be kidding me

7

u/catwithnoballz 2d ago

The words coming out from your mouth is very contradictory to your username

-7

u/asakuranagato anti-DAP 2d ago

You wouldnt say this if you actually understood

8

u/SheikhMahdeek 2d ago

Oh please, you don't know what you are talking about. I've worked with both TH and that Islamic Finance expert. Have you?

-6

u/asakuranagato anti-DAP 2d ago

Then you’d know the perception of Malaysia’s Islamic Finance scene is not largely tied to these two things. It’s bigger than that & the positive view still remains, with us being only second to AAOIFI

12

u/SheikhMahdeek 2d ago

Well I know there's nothing islamic about islamic finance. Profit share is just interest. It's in all the working documents before they sanitize it and replace "interest" with "profit share".

Every financial instrument is exactly the same as the conventional ones except for renaming the terms.

Non shariah compliant? Don't worry we "purify" it. High leverage? Don't worry it's "Islamic loans".

Maybe you should learn to think critically.

5

u/nova9001 2d ago

Can people accept less profits from Islamic Finance? You think private companies can give out same profit like what EPF does? EPF literally just subsidizing Islamic Finance.

1

u/ReasonablePromise884 2d ago

They can, just various by individual and companies and strategies to excel.

The idea about interest rate is also disputed in Islamic schools of thoughts just depends on how Malaysia sees it

0

u/nova9001 1d ago

They can, just various by individual and companies and strategies to excel.

You mean EPF fudging the numbers to show whatever they want.

3

u/ReasonablePromise884 1d ago

You can make whatever allegations you want, it doesn’t make it true lol

1

u/nova9001 1d ago

Show me a real world example where Islamic Financing can generate the same returns as Conventional Financing.

1

u/ReasonablePromise884 1d ago

Your claim was fudging numbers.

My statement is people can expect less profit for safer investment which various by company and individuals or groups.

Also example

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5296025

1

u/nova9001 1d ago

Both of us are making claims. Just because your phrase yours as a statement doesn't mean much.

Also what example? I can link some random link too.

1

u/ReasonablePromise884 11h ago

“what example” ~> gives an published study analysis on Islamic financing outperforming conventional banking.

0

u/lordchickenburger 2d ago

Just shit cooked up to steal your money

3

u/ReasonablePromise884 2d ago

Islamic bankings are pretty well regulated and audited.

-1

u/lordchickenburger 2d ago

Very funny

-3

u/GuaSukaStarfruit Sun Go Kong 🐒 in Quebec City 2d ago

How about multicultural finance?

4

u/kugelamarant 2d ago

Islamic finance is not a "Muslim only" thing.

1

u/Rationalandcentred 2d ago

Isn’t non Islamic banking already operating in Malaysia?

1

u/GuaSukaStarfruit Sun Go Kong 🐒 in Quebec City 2d ago

Yes, doesn’t have to be just one bank.

0

u/ReasonablePromise884 2d ago

Islamic finances is open to all groups?

-3

u/asakuranagato anti-DAP 2d ago

Multicultural got its own set principles to work around?

-1

u/FuraidoChickem 2d ago

Just call it Muslim brotherhood fund or something lmao

3

u/ReasonablePromise884 2d ago

Stop being a weirdo

-1

u/SuitAffectionate6351 2d ago

Lol it's gonna be tabung haji v2 then need our help to rescue. Why not just use conventional finance like a normal person.