18 May 2021: Islamic banking has been prepared to face economic crises, says CIIF
KUALA LUMPUR, May 18 — Empowered by the principle of Islamic finance, banks that hinge on Islam and Shariah method, are very far-sighted in preparing for various high-risk situations, such as Covid-19, and ensuring that they are effective, the Chartered Institute of Islamic Finance Professionals (CIIF) said.
t said the analysis released by credit rating agency Fitch Ratings recently further reinforces the fact that Islamic banking has been prepared to face various economic crises.
This is further strengthened by the element of flexibility of the Islamic banking sector compared to that of conventional banking, it added.
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