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EPICENTRE June 2021: Mainstreaming sustainability in Malaysia
Mainstreaming sustainability in Malaysia 

The Malaysian Islamic financial industry has been progressively gaining depth, diversity, and maturity to embark on a more innovative and forward-looking initiative of sustainable agenda. The industry is now taking more proactive efforts to make positive impact and contribution to sustainable economic development.  

Recently, the Value-based Intermediation (VBI) Community of Practitioners (CoP) has issued the first cohort of VBI Financing and Investment Impact Assessment Framework (VBIAF) sectoral guides on palm oil, renewable energy, and energy efficiency, through joint work with real sector experts, and academicians of the industry. The Sectoral Guides provide comprehensive guidance to the financial institutions in developing and implementing impact-based risk management according to the VBI principles. 

Download the infographic below to get more information on the VBIAF Sectoral Guides.

Stay tuned for the second cohort of VBIAF sectoral guides on oil and gas (O&G), manufacturing, and construction and infrastructure by the end of 2021.

In a separate development, an Islamic fintech innovation programme called FIKRA was launched in May 2021 by the Securities Commission Malaysia (SC) in collaboration with the United Nations Capital Development Fund (UNCDF). The programme is to advance the development of Islamic fintech while creating an ecosystem that nurtures talent, funds innovation, commercialises ideas and solutions in Malaysia’s Islamic capital market.


The MIFC Team
Download infographic
News

World’s first sovereign U.S. dollar sustainability sukuk issuance by the Government of Malaysia
The Government of Malaysia successfully priced the world’s first sovereign U.S. dollar sustainability with total issuance of USD1.3 billion. The overwhelming demand on the sukuk with over 6.4 times oversubscription demonstrates the market’s confidence in Malaysia’s economic recovery and growth prospects.
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Article

Malaysia’s inaugural US dollar sustainability sukuk issuance
The maiden sustainability sukuk by Malaysian Government is in line with the government’s recently launched Sustainability Development Goal (SDG) Sukuk Framework. The sukuk facility is envisaged to pave the way for a healthy build-up of environmental and social projects-related financing.
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News

BNM finalises the Climate Change and Principle-based Taxonomy
The final issuance of the Climate Change and Principle-based Taxonomy guidance document features the introduction of a progressive system of transition categories and provides greater clarity and guidance for the assessment of guiding principles.
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News

Growing Champions: Scaling up and enabling climate finance in Malaysia
Green financing will play an increasingly important role in global investment in the coming years, and Malaysia can play a pivotal part in this journey.
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News

Islamic fintech holds potential to provide inclusive, sustainable financial solutions
Covid-19 impacted the growth of Islamic finance and Islamic fintech holds the potential to provide inclusive and sustainable financial solutions that could uniquely cater to the financial needs of all segments of society.
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News

SC unveils FIKRA to broaden Islamic fintech in Malaysia's capital market
The Securities Commission Malaysia (SC) in collaboration with the United Nations Capital Development Fund (UNCDF) launched FIKRA Islamic Fintech Accelerator Programme (FIKRA), which aims to address 3 key challenge areas; new Islamic capital market offerings, accessibility and social finance integration.
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News

Labuan IBFC signs MoU with QFC  Authority
Labuan International Business and Financial Centre (Labuan IBFC) Inc. signed MoU with the Qatar Financial Centre Authority (QFC Authority) to develop long-term cooperation and boost economic and financial sector ties between the two financial centres.
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News

Sukuk will remain dominant in Malaysian debt market
Sukuk is expected to continue being a dominant role in Malaysia’s debt market due to strong appetite for higher-yielding instruments as global interest rates are expected to remain low in 2021.
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News

IsDB issued SOFR-linked sukuk
The Islamic Development Bank (IsDB) has issued the first-ever Secured Overnight Financing Rate (SOFR)-linked sukuk in the global capital markets. The SOFR will be the new global benchmark rate, replacing the London Interbank Offered Rate (LIBOR) that is being phased out by June 2023.
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Upcoming Events
Convergence of Islamic finance and sustainability
Date: 8 June 2021

Ethical Finance Summit 2021
Date: 8 - 10 June 2021
Global News on Islamic Finance
  1. Dubai restructures government bodies, dissolves Islamic Economy Development Centre
  2. Indonesia to develop more regional development banks, Shariah-compliant pension funds
  3. Bangko Sentral Ng Pilipinas approves liquidity risk management framework for Islamic banks
  4. Islamic investment window launched in Brunei
  5. New think tank to develop Europe’s halal economy
  6. New Islamic pension fund in Nigeria to launch before June
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