Malaysia, Indonesia should forge alliance to enhance Islamic finance, fintech growth in Asean, says Bank Negara

Bank Negara Malaysia deputy governor Adnan Zaylani said Malaysia and Indonesia should collaborate in the banking and takaful sectors.

“Financial services across countries, especially product acceptance across different countries, would be more fluid . To achieve this at the global level of acceptance could be challenging, but we could start in Asean first,” he said during the panel session titled “SEA’s Next Big Fintech Export: Islamic Finance” at the KL20 Summit 2024 here, today.

Elaborating further, he said Malaysia has an overall framework in which existing banks could collaborate in Islamic fintech as the segment has a lot of opportunities to complement the financial sector.

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