In positioning Malaysia as an international islamic financial centre

Source: zawya.com Press Release

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) today announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council. The Council serves as a platform to provide industry stewardship in enhancing Malaysia’s proposition as a global marketplace and an international gateway for Islamic finance.

The roles of the MIFC Leadership Council include providing thought leadership as well as driving strategy formulation and monitoring industry initiatives to solidify Malaysia’s leading position in Islamic finance. The Council is expected to catalyse industry developments towards nurturing new ideas, deepen and diversify strategic linkages with international partners and strengthen MIFC global advocacy. Tan Sri Azman Mokhtar will lead the Council as the Chairman, with the Council members[1] comprising prominent local and international industry figures as well as representatives from BNM and SC. Appointed for a term of three years, the Council members will be guided by national strategic development plans, including BNM’s Financial Sector Blueprint 2022 – 2026 and the SC’s Capital Market Masterplan 3 (CMP3).

In undertaking its mandates, the Council will leverage the expertise of and collaborate with experts from the financial, corporate and academic fraternity as well as relevant authorities and agencies, to advance areas of mutual interest and support deliberation of industry’s initiatives.

The formation of the Council was announced at the Global Islamic Finance Forum (GIFF) 2022 which was attended by more than 1,000 international and local participants from more than 35 countries. Themed “Take The Reins”, GIFF 2022 focuses on emerging developments in Islamic finance such as fintech and digitalisation, value-based innovation and global opportunities for the Islamic finance industry to promote balanced, inclusive and sustainable growth.

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A community member of:
Bank Negara Malaysia
Securities Commission Malaysia
Members of the Media may contact the Media Team at;
Roziah Mohd. Hanifa (roziah@bnm.gov.my), Delyana Nordin (delyanaN@seccom.com.my)

About Malaysia’s Islamic Finance Marketplace

Since its origin nearly 40 years ago, Islamic finance in Malaysia has evolved into a well-developed and comprehensive marketplace capable of meeting the diverse needs of the economy and society. The marketplace is characterised by a robust regulatory, supervisory, Shariah and legal framework, deep and progressive Islamic financial markets, diverse set of players, multi-asset commodity and exchange platforms, efficient multi-channel payment gateways to facilitate financial intermediation, as well as a talent base with global capabilities and connectivity for business deals anywhere in the world.

Malaysia’s Islamic finance marketplace is open to global industry players and market participants to collaborate with and benefit from a highly conducive business environment of innovation, expertise and deal flow. Our marketplace is a comprehensive Islamic finance ecosystem and business environment of infrastructure, innovation, expertise and deal flow, served by the Malaysia International Islamic Financial Centre (MIFC) community, which comprised financial institutions, professional firms, regulators and government agencies.

For more information on Malaysia’s Islamic finance marketplace, please visit www.mifc.com and follow us on Twitter (@MalaysiaIF) / LinkedIn (@Malaysia World’s Islamic Finance Marketplace).