BANK Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) have strengthened their collaboration to advance Malaysia's global Islamic finance ambitions with the launch of a high-level advisory body aimed at driving industry-led growth and expanding international business opportunities.
The two institutions convened the inaugural meeting of the Malaysia International Islamic Financial Centre (MIFC) Advisory Panel (MAP), an inter-agency platform established to provide strategic direction and coordinate efforts to reinforce Malaysia's position as a leading global marketplace and international gateway for Islamic finance.
The advisory panel will play a central role in shaping the strategic priorities of the MIFC Business Network (MBN), an industry-led platform designed to strengthen Malaysia's international Islamic finance agenda and accelerate business development initiatives.
The MAP will also ensure that industry-led initiatives remain aligned with national economic priorities, address key challenges facing the sector through practical recommendations, and identify opportunities to expand international participation and cross-border collaboration.
The panel brings together senior representatives from key government ministries, regulatory authorities, sovereign investment institutions and business leaders to provide a coordinated approach to advancing Malaysia's Islamic finance ecosystem.
The MAP is jointly chaired by BNM and the SC, with members comprising representatives from the Ministry of Finance, the Ministry of Investment, Trade and Industry, Bursa Malaysia, the Employees Provident Fund, Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan), Permodalan Nasional Berhad, Lembaga Tabung Haji and the Labuan Financial Services Authority.
The advisory panel also includes business envoys Tan Sri Azman Mokhtar and Tan Sri Abdul Wahid Omar.
Its establishment coincides with the formal transition of the MIFC Leadership Council (MLC) into the MIFC Business Network, marking a shift towards greater industry-led stewardship supported by close cooperation between the public and private sectors.
Building on the foundation established by the MLC, the MBN will spearhead the implementation of strategic priorities aimed at unlocking new business opportunities, while guidance from the MAP is expected to accelerate Malaysia's growth and further strengthen its standing as a globally connected Islamic finance hub. - June 23, 2026
