PETALING JAYA: The Securities Commission Malaysia today signed a Memorandum of Understanding with the Islamic Development Bank Group, paving the way for greater cooperation in Islamic capital market and broadening the reach of Islamic fintech and social finance, particularly waqf.
Anwar and Muhammad Al Jasser, in their meeting in March 2023, had agreed that regulators, authorities and businesses in Malaysia to work closely with IsDB to explore new areas of collaboration. These include developing and piloting innovative Islamic finance products, promoting the halal industry, and supporting micro, small and medium enterprises .
Through greater collaboration, he said both parties can also develop and scale up the MSMEs, in support of their aspirations. To that end, the SC together with its affiliate, Capital Markets Malaysia recently engaged with various stakeholders in Abu Dhabi, Dubai and Riyadh. This includes lending Malaysia’s voice to reinforcing ICM’s impact and enhancing Malaysia’s global thought leadership.
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