les cahiers du mecas
Volume 16, Numéro 1, Pages 64-76

Malaysian Experience In Islamic Banking

Authors : Beladjine Khaldia . Yamani Leila .

Abstract

The Islamic banking experience is generally new compared to its western counterpart, which reached the stage of sagging and intellectual and institutional pyramid. It is still at the beginning of life and the stage of growth and violence in the countries where it originated and spread to reach more than 75 countries across the Islamic and Western worlds. The Malaysian political economy integrates a very singular Islamic dimension, resulting from the State voluntarism, whose social and political springs (nationalism, social cohesion, diplomacy) are noteworthy. An entire segment of the economy “compliant with the Shari’ah” accompanies the rapid growth of capitalism in Malaysia - the first economic power in Southeast Asia after Singapore - on both material and ethical fields. Indeed, its growth has accelerated for over twenty years in concert with Islamic finance, a highly internationalized sector in which Malaysia is the main domestic market and occupies a leading position of expertise worldwide. This article of sociology of development, including a perspective echoing Max Weber inspiration, discusses the political institutionalization of Malaysian Islam to highlight its articulation, in a conservative scheme, with the expansion of capitalistic modernity.

Keywords

Malaysian economy, Islamic banking, banking tool, Islamic banking institutions, Islamic banking industry.