Malaysia raises profile as an Islamic fund hub
Malaysia now has more sharia funds than Saudi Arabia, but is still second in terms of assets under management.
Malaysia's efforts to promote itself as a global Islamic investment hub are paying off.
The country has overtaken Saudi Arabia in terms of the number of locally domiciled sharia funds, and is second to the huge Middle East market in terms of sharia assets under management (AUM), based on data from financial services research firm Cerulli Associates.
As of November 2008, sharia funds domiciled and managed in Malaysia totalled 145, compared to just 131 in Saudi Arabia. These range fr…
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