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Malaysia strives Islamic finance innovation to build social & finance resilience in supporting economic recovery

Malaysia continues to forge the way ahead in Islamic finance with its comprehensive ecosystem and innovative offerings. In times of difficulty e.g. COVID-19 pandemic, various measures and initiatives have been implemented to build social & economic resilience for the community and businesses to support the economic recovery. 
 
Recently, participating Malaysian Islamic banks in collaboration with several ministries also offer an innovative scheme to ease SMEs cash flow called the CAKNA Scheme. The scheme aimed to assist the cash flow position of SMEs with Government procurement contracts. 

Download the infographic to get more information on CAKNA Scheme.

In another development, the first cohort of the VBIAF Sectoral Guides on Palm Oil, Renewable Energy and Energy Efficiency was issued to complement the existing broad VBIAF guidance, in the pursuit to incorporate environmental, social and governance (ESG) risk considerations in their financing and investment decision making process.


The MIFC Team
Download infographic
News

The VBIAF Sectoral Guide Working Group issues VBIAF Sectoral Guides on Palm Oil, Renewable Energy and Energy Efficiency

The Sectoral Guides are published as guidelines for Community of Practitioners to incorporate environmental, social and governance (ESG) risk considerations in their financing and investment decision-making process.
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News

VBIAF sectoral guide on oil and gas, manufacturing, construction and infrastructure by year-end

Bank Negara Malaysia is collaborating with the financial industry to issue the second cohort of VBIAF sectoral guides on oil and gas, manufacturing, and construction and infrastructure by the end of this year.
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News

BIMB Investment launches Makmur myWakaf Fund

Makmur myWakaf Fund is the first waqf-featured unit trust fund and a qualified sustainable and responsible investment (SRI) fund, with the aim to distribute monthly income distribution, subject to availability of income and channel 50% of the income distribution for waqf purposes through AIBIM's myWakaf initiative.
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News

Malaysia leads as the global Islamic Fintech hub driven by strong Islamic finance initiatives and ecosystem

Its burgeoning Islamic fintech and economy sectors continue to flourish aided by governmental support and Malaysia Digital Economy Corporation’s (MDEC) continuous push to expand the digitalisation of the economy and an aggressive creation of a conducive ecosystem for which it can thrive on.
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Report

ISRA and UKIFC publish second thought leadership series paper supporting SDGs

The Islamic Finance Council UK (UKIFC), in partnership with the International Shariah Research Academy for Islamic Finance (ISRA), has launched the second report that aims to assist and encourage active engagement in support of the UN Sustainable Development Goals (SDGs) by the global Islamic finance sector.
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News

Malaysia & IsDB sign KL Regional Hub into a Center of Excellence

MoU and Supplementary Agreement have been signed between the Government of Malaysia and Islamic Development Bank on the KL Center of Excellence, mandated to promote cooperation on Islamic finance, Halal initiatives, Science, Technology, and Innovation ecosystem, reverse linkages for capacity sharing and resource mobilisation.
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Report

Bank Negara Malaysia publishes 2020 reports

Bank Negara Malaysia released three reports, Annual Report 2020, Economic and Monetary Review 2020 and Financial Stability Review for Second Half 2020.
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Report

Malaysian Capital Market Demonstrated Resilience in year of COVID-19

The Securities Commission Malaysia said that the capital market expanded 7% to RM3.4 trillion in 2020 as compared to RM3.2 trillion in 2019 during the release of its Annual Report 2020.
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Article

Will 2021 be a springboard year for Malaysia to up its SDG milestones?

As Malaysia moves forward in its SDG agenda, sustainability stands out as a key foundation for government policies. Related to this and a natural fit into the country’s sustainability aspiration is Islamic finance, which subscribes to value-based intermediation principles, similar to environmental, social and governance principles.
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View article here
Islamic Finance Dashboard
Upcoming Events
Call for Papers: 5th Islamic Finance, Banking & Business Ethis Global Conference
Deadline: 15 April 2021

CAKNA Scheme: Financing Scheme for Vendors with Government Procurement Contracts
Date: 16 & 30 April 2021

Pioneering Social Cause Through Crowdfunding Platform - The Story of Sadaqa House
Date: 16 April 2021

Joint Waqf Or Waqf Mushratak as a Wealth Management Instrument
Date: 23 April 2021

Aligning Sadaqah and Social Impact Financing - The Experience of Global Sadaqah Ethis
Date: 30 April 2021

Wakalah and its Application in Islamic Finance
Date: 4 May 2021

Ibra' and its Application in Islamic Finance
Date: 25 May 2021
 
Global News on Islamic Finance
  1. CIMB Investment, Maybank listed as lead managers in £500m UK sovereign sukuk
  2. AAOIFI and IFSB collaborating on Shariah governance standard
  3. South and Southeast Asia a bright growth spot for Islamic banking
  4. Bank Indonesia persistently pushes for transformation of the Sharia economy
  5. Bangko Sentral ng Pilipinas to ask banks their plans for Islamic banking units
  6. Sudan will have dual system for Islamic and non-Islamic banking
  7. The UK bolsters Islamic finance offering with the second sukuk
  8. State Bank of Pakistan unveils third 5-year Strategic Plan for Islamic Banking Industry
  9. South Africa is working on rand-denominated sukuk issuance
  10. Dubai Islamic Economy Development Centre (DIEDC) launches 2021 plan, reinforces Dubai’s status as the global capital of Islamic economy
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