Bank Negara to unveil Islamic finance strategy this year
Your browser does not support the audio element.
KUALA LUMPUR: Bank Negara Malaysia will introduce a strategy paper and a Syariah Contract Framework exposure draft in the coming year, according to Governor Datuk Seri Abdul Rasheed Ghaffour. The governor emphasized the importance of collaboration among regulators, financial institutions, syariah scholars, and the industry in creating an Islamic finance ecosystem that encourages innovation.
The Digital Asset Innovation Hub, established in June 2025, serves as a platform for the sector to investigate emerging technologies and use cases with tangible economic value. The bank is reviewing the Syariah Contract Framework to broaden and enhance the utilization of syariah contracts. The upcoming Financial Sector Blueprint will reflect this broader transformation.
Rasheed stated that aligning the financial sector with Malaysia's future socioeconomic objectives will be a key measure of success, which must also adapt accordingly. The governor highlighted three priorities: first, aligning strategies and capital with purpose, focusing on high-value sectors and renewable energy; second, innovating based on real-world needs, particularly in areas with unmet demands; and third, maintaining the centrality of values such as fairness, integrity, and empathy in business decisions and market conduct.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
