Launch Partners

Tuesday, June 18, 2024

Launch Partners

Bank Negara Malaysia outlines key development areas and steps to develop Malaysia’s Islamic finance market

MALAYSIA: Bank Negara Malaysia (BNM) Assistant Governor Adnan Zaylani Mohamad Zahid has announced at Standard Chartered’s Islamic Financial Market Forum that BNM’s Islamic Financial Market Subcommittee has identified the key development areas for Malaysia’s Islamic finance market, including, among others, the need of a continued collaboration between regulators and the financial market community to increase the Malaysian Sukuk market’s investor base as well as the enhancement of ESG data to direct capital and funding toward more sustainable and high-impact assets, according to an official statement.

Adnan also announced that BNM and the Securities Commission Malaysia have formed the MIFC (Malaysia as an Islamic Financial Centre) Leadership Council to provide thought leadership as well as strategy formulation and implementation to enhance Malaysia’s position as an international gateway for Islamic finance.

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