Malaysia's central bank said on Wednesday it was still reviewing offers to set up mega Islamic banks, suggesting it could miss its target of awarding a licence this year as the industry struggles to create a well-capitalised sharia lender.
Bank Negara Malaysia is offering up to two new Islamic banking licences to foreign firms to set up banks with at least $1 billion of paid-up capital, a move that the industry hopes will spur more lending and create bigger Islamic banks that can compete with global lenders.
Malaysian central bank chief Zeti Akhtar Aziz had said the authority hoped to announce in 2010 at least one licence for a big Islamic bank.
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