Finance minister: Malaysia-Islamic Development Bank to expand Islamic finance role

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KUALA LUMPUR, July 24 — Malaysia looks forward to the continuing collaboration with member and non-member countries of the Islamic Development Bank (IsDB) to advance the role of...

KUALA LUMPUR, July 24 — Malaysia looks forward to the continuing collaboration with member and non-member countries of the Islamic Development Bank to advance the role of Islamic finance in areas such as the halal industry, new technology, social finance, awqaf, public health and the environment.

“Malaysia has established a strong global leadership in Islamic finance, and the IsDB has been instrumental in facilitating the sharing of our expertise with its member countries. The two leaders noted their long-standing cooperation in the areas of education, scholarship, and reverse linkages between the Malaysian government and the IsDB and further agreed to scale up ongoing joint initiatives through the Centre of Excellence, as well as support Malaysia in key priority areas in line with its national development plan.

“Malaysia is committed to partner with the bank, especially in the key three pillars: boosting recovery, tackling poverty and building resilience, as well as driving green economic growth as identified in the strategy document,” Zafrul added.

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