ABSTRACT
Islamic banking has experienced double-digit growth globally since 2006. The potential for growth is significant, considering there are about 1.5 billion Muslims worldwide. Compared to other Muslim-dominated countries, the multi-ethnicity and religiosity of the Malaysian population has moulded a different form of growth of Islamic banking in the country. In contrast, in regions with sizable Muslim populations, Islamic banking is growing at a substantial rate. For instance, Bank Islam Malaysia Berhad indicates that 70–80 percent of the bank's trade and corporate financing are with non-Muslim customers. According to the Malaysian Islamic Financial Services Act 2013 an Islamic bank is a company licensed to carry on Islamic banking business with products and operations in compliance with Shariah. According to Hassan, non-Muslim consumers have gradually become the major users of Islamic banking in Malaysia. The Islamic banking products are promoted by the banks' existing staffs, Muslims and non-Muslims, to all prospective clients–Muslims and non-Muslims alike.
