In Malaysia, financing based on Islamic principles should reach 40% of total financing in 2020, up from 29% in 2010, underpinned by greater outreach and product innovation.
Meanwhile, China, India and Pakistan are merely ‘doing okay’, leaving Indonesia and Myanmar trailing in the ‘not doing enough’ cluster.
Income from wealth management dropped to the lowest in two years, as Southeast Asia’s biggest bank felt the same aftershocks from tumbling markets as global private banking giants UBS Group AG and Credit Suisse Group AG.
IDC analysts said that data will be paramount to building next-generation tech, like machine learning, IoT applications and artificial intelligence.
Alternative asset allocations in the seven markets grew by 20 per cent in aggregate in the last 20 years, which was funded by a corresponding 20 per cent decrease to 40 per cent in equities allocations.
“With a median deal size of $6m, this is palatable for a large spectrum of investors,” the research firm noted.