Asset Publisher

null EPICENTRE January 2022: Malaysia welcomes 2022 with the announcement of the Royal Award for Islamic Finance global nominations and two new prizes


EPICENTRE January 2022: Malaysia welcomes 2022 with the announcement of the Royal Award for Islamic Finance global nominations and two new prizes
Malaysia’s global initiatives and developments in Islamic finance
Another year has passed and we witnessed significant developments and new initiatives being introduced in Islamic finance globally.

Most recent was the announcement of the global call for nominations for the Royal Award for Islamic Finance 2022. This prestigious award recognises an outstanding and inspiring individual who has made significant contributions to the advancement of the Islamic financial services industry. In conjunction with The Royal Award, two additional new prizes were also introduced: the Emerging Leader Prize and the Impact Challenge Prize.  

The Emerging Leader Prize recognises and celebrates young international talent who have made outstanding contributions to the advancement of innovative ideas in Islamic finance. The Impact Challenge Prize meanwhile, aims to bring greater recognition to digital and innovative solutions based on Islamic finance principles or Islamic finance enablers, which can improve the economic and social resilience of financially impacted communities globally. 

Download the infographic below for more information on the Impact Challenge Prize.

On a separate note, Malaysia is once again ranked first in the Islamic Finance Development Indicator (IFDI) 2021, for the ninth consecutive year. Malaysia also leads in the Quantitative Development, Knowledge, Governance and Awareness indicators.

2021 has been a challenging year globally, yet the vast potential of Islamic finance is continuously unearthed, providing greater support for global economic recovery in the aftermath of natural disasters and pandemic-related rehabilitation efforts. May Islamic finance continue to  grow, with positive outlook in 2022 and beyond. Happy 2022!

The MIFC Team
Download infographic

The Royal Award for Islamic Finance calls for global nominations and introduces two new prizes

Invitation for global nominations and applications for The Royal Award for Islamic Finance was announced with an addition of two new prizes: the Emerging Leader Prize and the Impact Challenge Prize.
Read More

Malaysia ranks first in IFDI 2021

Malaysia has retained the first place in the Islamic Finance Development Indicator (IFDI) 2021 for the ninth consecutive year.
Read More

Malaysia on track as global Islamic economy and finance hub

Malaysia is on track to realise its full potential as an Islamic economy and finance hub in the ASEAN region and beyond, says the National Recovery Council chairman.
Read More

Malaysian takaful industry on progress mode

The Malaysian takaful industry recorded strong growth in the family takaful and general takaful businesses in the first half (H1) of 2021 compared to the same period in 2020.
Read More

BNM hosts the 3rd Rountable Meeting between CSAAs

Bank Negara Malaysia (BNM) hosted the Meeting between Centralised Shariah Advisory Authorities in Islamic Finance (CSAAs) which aims to further strengthen connectivity and foster mutual respect among Shariah boards at both central bank and national levels around the world.
Read More

Licensing Framework for Digital Insurers and Takaful Operators

BNM issued the Discussion Paper that outlines the proposed framework for licensing new digital insurers and takaful operators (DITOs) to encourage digital innovation in the insurance and takaful sector. BNM invites written feedback on the Discussion Paper by 28 February 2022.
Read More

Islamic social finance can provide support for post-pandemic poverty alleviation, economic recovery

The Securities Commission has introduced frameworks to facilitate the use of capital market instruments to drive financial inclusion and social impact, such as Sustainable and Responsible Investment (SRI) sukuk and waqf-featured funds.
Read More

Labuan IBFC could expand Malaysia’s Islamic fintech

The Labuan International Business and Financial Centre (Labuan IBFC) can become a platform to expand Malaysia’s capabilities in digital Islamic finance and the government is prepared to collaborate with relevant stakeholders to realise the goal.
Read More

Assistant Governor's Welcoming Remarks at the IFN Asia Forum 2021

Sustainability, technology, and innovation. These, among others will be the key themes, together with the evolving and new consumption trends that could drive an estimated USD10 trillion worth of investment opportunities in Asia.
Read More

Malaysia allocates USD3 million for halal industry development in 2022

The government has allocated RM12.63 million (USD3 million) for 2022 to strengthen further the national halal industry’s development, including projects under the supervision of the International Trade and Industry Ministry.
Read More
View video here
Islamic Finance Dashboard
Upcoming Events
Click here for more information on upcoming events
Global News on Islamic Finance
  1. Islamic finance industry growing
  2. Fintech and the rise of Islamic finance
  3. The IFSB issues Exposure Draft of Revised Standard on Solvency Requirements for Takaful/ Retakaful Undertakings
  4. European Islamic Funds Industry Led by Luxembourg
  5. BSP clears digital, Islamic banks to engage in FX transactions
Email MIFC
Malaysia World's Islamic Finance Marketplace
Copyright © 2022 Bank Negara Malaysia. All rights reserved.
Please log on to for more information. 

DISCLAIMER: The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.