MALAYSIA: CIMB Islamic Bank, which oversees RM1.7 billion (US$536.75 million) invested in local unlisted companies, sees Malaysian Islamic private equity (PE) growing fourfold in five years to reach RM9.7 billion (US$3.1 billion).
Badlisyah Abdul Ghani, its CEO, said that the country’s Shariah compliant regulations and fund-raising options have developed sufficiently to support growth in the market, which currently stands at about RM2.5 billion (US$773.44 million).