Page 63 - Full Book_24.4.2021

In Retrospect

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The Will to Suceed

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Achieving a Leading Repute

The unemployment rate stood at 4.8% at the end of 2020 after the Overnight Policy Rate (“OPR”). The Malaysia’s central bank
surpassing 5% in the middle of the year, the highest rate in has also significantly injected the amount of liquidity through
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three decades. To cushion the effect on the lower income groups the reduction in Statutory Reserve Requirement (“SRR”) during
and the industries most exposed to the sudden drop in GDP the year. Nevertheless, in December 2020 the rating agency
growth, in 2020 the government launched economic stimulus Fitch downgraded Malaysia’s sovereign rating by one notch
packages worth roughly RM305 billion. The assistance are in the to ‘BBB+’, citing the substantial impact of the COVID-19 crisis
form of cash transfers, wage subsidies, deferment in financing on the country’s economy, despite the government’s swift and Paving the Way for a Sustainable Future
repayments, targeted EPF withdrawal schemes and reduction in significant relief measures .
3
member’s contribution rate alongside with tax breaks and reliefs,
as well as employment measures especially in respect to job 1 IMF’s World Economic Report Update January 2021
matching and reskilling. 2 World Health Organisation (“WHO”), 10 January 2021
3 Ministry of Finance Malaysia, Media Statement, Commentary on Q3,
Following the peak of uncertainty in March, Malaysia has seen 2020 GDP Growth, 13 November 2020
rising foreign holdings in its government bonds, demonstrating 59
investors’ confidence in the Malaysian economy and its
government. Furthermore, the Bank Negara Malaysia (“BNM”)
has been proactively managing the economy via monetary
Adhering to the Best Governance Practices
policy accommodation with a total of 125 basis points cut in

2019 - 2020 Highlights

Islamic Finance Assets by Region 2019 (US$ Billion)

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Laying the Foundation for Financial Growth

755 685 1,253 96 3 73 8 2
Other MENA Southeast GCC Europe Americas South Asia Sub - Saharan Other Asia
Asia Africa
Islamic Finance Assets Growth 2012 - 2019 (US$ Billion) Distribution of Global Islamic Finance Assets 2019 (US$ Billion) |
Size Share of Number of Number
2,201 2,307 2,462 2,513 2,875 3,693 (US$ Islamic Institutions/ of Countries
Billion) Finance Assets Instruments Involved
Islamic Additional Information & Disclosure Summary
Banking 1,993 69% 526 74

Sukuk 538 19% 3,420 25

Other IFIs 153 5% 645 54
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Islamic
15’ 16’ 17’ 18’ 19’ 24’ Funds 140 5% 1,749 629
Projected 24 th AGM Information
Takaful 51 2% 336 47