Shariah-based banks see loan growth outpace deposits by ninefold in 6 months

10 July, 2024, 09:00 am

Last modified: 10 July, 2024, 09:00 am

Shariah-based banks see loan growth outpace deposits by ninefold in 6 months

10 July, 2024, 09:00 am

Last modified: 10 July, 2024, 09:00 am

Shariah-compliant banks saw a more than ninefold increase in loan growth compared to their deposits from November 2023 to April 2024 of the last fiscal year. Officials attributed the decline in deposits to reduced public confidence and inflation.

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