Malaysia's millennials, gen Z lead in Islamic banking - report. [Newspaper] (2024)
Abstract
KUALA LUMPUR - Millennial and Generation Z (Gen Z) Muslims in Southeast Asia are increasingly embracing Islamic banking, with 77 per cent of Malaysians and 65 per cent of Indonesians surveyed using it alongside traditional banking, compared to only 31 per cent globally, according to a report.
A study conducted by Mambu -- a leading Software-as-a-Service (SaaS) cloud banking platform -- revealed that Malaysia also boasted the highest proportion of consumers who only use Islamic banking (42 per cent), compared to just over a quarter (26 per cent) of global respondents.
The report indicated that across all regions, 85 per cent of consumers who are not currently using Islamic banking express interest in doing so, with the percentage increasing to 92 per cent in Indonesia.
| Item Type: | Newspaper |
|---|---|
| Keywords: | Islamic banking, Millennials, Gen Z |
| Taxonomy: | By Niche > Islamic Banking > Banks and Banking > Finance By Niche > Islamic Banking > Banks and Banking > Religious Aspects By Niche > Islamic Banking > Banks and Banking > Technological Innovations |
| Local Content Hub: | Niche > Islamic Banking |
| Depositing User: | Rosila Nordin |
| Date Deposited: | 31 May 2024 09:37 |
| Last Modified: | 31 May 2024 09:37 |
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