AhlulBayt News Agency (ABNA): On the sidelines of the “Malaysia Islamic Financial Market Subcommittee” meeting, several Islamic banks in the country signed memorandums of understanding to enhance the repurchase agreement and the master risk hedging agreement. A second cross-border agreement related to environmental, social, and governance (ESG) standards was also signed among various banks.
According to Bank Negara Malaysia, the signing of these MoUs demonstrates the commitment of Islamic banks to cooperation and the expansion of interbank transactions to deepen the development of the Islamic financial market. The institution stated, “The MoUs reflect the shared commitment of financial institutions, through the Association of Islamic Banking and Financial Institutions Malaysia, to effectively implement key market frameworks and preserve Malaysia’s leadership in Islamic finance development.”
The signing ceremony was attended by the Deputy and Assistant Deputy Governor of Bank Negara Malaysia, Adnan Zaylani Mohd Zahid and Mohamad Ali Iqbal Abdul Khalid.
Simultaneously, the Malaysia Islamic Financial Market Subcommittee roundtable was held at Bank Negara’s Lanai Kijang center, as part of the Global Islamic Finance Forum. Experts at the meeting exchanged views on building a comprehensive and forward-looking ecosystem for Islamic finance.
In his remarks, Adnan Zaylani stressed the need for innovation in the Islamic financial market, stating, “Opportunities such as sustainable investment, waqf-based instruments, and asset tokenization can mobilize philanthropic capital.”
Hanif Ghulam Mohammad, Chairman of the Malaysia Islamic Financial Market Subcommittee, said the agreements and discussions reflect the industry’s collective determination to innovate, strengthen market resilience, and enhance global alignment.
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