BNM, SC Sets up New Council to Position Malaysia as a Global Islamic Financial Center

BNM, SC Sets up New Council to Position Malaysia as a Global Islamic Financial Center

by October 6, 2022 0 comments

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) 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.

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 members 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).

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.

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