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APB Insights: Islamic wealth management edge propels 13% AUM growth in Malaysia

Malaysia’s private banking and wealth management industry saw a double-digit percentage increase in AUM in 2023, new data from APB Insights has revealed. The growth is attributed to Islamic wealth management performance and client onboarding, despite negative effects due to currency depreciation. By the end of 2023, Malaysia’s wealth managers and private banks had a combined US$96 billion in AUM…

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