MIFC Partnership
We are proud to announce an exciting new partnership with the Malaysia Islamic Finance Centre Leadership Council (MIFC) – an initiative of Malaysia’s financial market regulators and relevant government agencies dedicated to developing Malaysia’s Islamic finance market by engaging with industry and government.
Our Advisory Board Member, Omar Shaikh announced the partnership alongside MIFC chairman, Tan Sri Azman Mokhtar on 28 May 2024 in front of Prime Minister YAB Dato’ Seri Anwar Bin Ibrahim at the Global Forum on Islamic Economics and Finance, organised by the Ministry of Finance Malaysia and Bank Negara Malaysia in collaboration with various stakeholders.
With the MIFC’s focus on propelling the next phase of growth and to solidify Malaysia’s position as a leading international Islamic financial centre, the partnership will explore scope for collaboration around Islamic finance product innovation, the development of cross-border financial activities to support the Islamic Economy activities and capacity building and education.
During the Forum, the MIFC Leadership Council presented its visionary position paper, entitled “Establishing Islah through Islamic Finance,” which provides strategic recommendations for policymakers and industry leaders to foster a more inclusive, sustainable, and humane financial system. The paper also outlines 10 key focus areas and 18 high-impact projects, such as elevating sustainability via a Biodiversity SRI Sukuk, unlocking equity risk capital, and strengthening philanthropic finance instruments like zakat and waqf. It calls for 10 transformative ‘hijrah’ shifts, underpinned by 7 guiding principles focused on inclusivity, sustainability, and ethical practices.
We look forward to working with MIFC to help align financial practices with Maqasid al-Shariah to promote societal welfare.