Malaysia International Islamic Financial Centre Leadership Council to Drive the Next Phase of Development in Positioning Malaysia as an International Islamic Financial Centre


Kuala Lumpur, 5 October 2022

Bank Negara Malaysia (BNM) and the Securities Commission Malaysia (SC) today announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council. The Council serves as a platform to provide industry stewardship in enhancing Malaysia’s proposition as a global marketplace and an international gateway for Islamic finance.

The roles of the MIFC Leadership Council include providing thought leadership as well as driving strategy formulation and monitoring industry initiatives to solidify Malaysia’s leading position in Islamic finance. The Council is expected to catalyse industry developments towards nurturing new ideas, deepen and diversify strategic linkages with international partners and strengthen MIFC global advocacy. Tan Sri Azman Mokhtar will lead the Council as the Chairman, with the Council members1  comprising prominent local and international industry figures as well as representatives from BNM and SC. Appointed for a term of three years, the Council members will be guided by national strategic development plans, including BNM’s Financial Sector Blueprint 2022 - 2026 and the SC’s Capital Market Masterplan 3 (CMP3).

In undertaking its mandates, the Council will leverage the expertise of and collaborate with experts from the financial, corporate and academic fraternity as well as relevant authorities and agencies, to advance areas of mutual interest and support deliberation of industry’s initiatives.

The formation of the Council was announced at the Global Islamic Finance Forum (GIFF) 2022 which was attended by more than 1,000 international and local participants from more than 35 countries. Themed “Take The Reins”, GIFF 2022 focuses on emerging developments in Islamic finance such as fintech and digitalisation, value-based innovation and global opportunities for the Islamic finance industry to promote balanced, inclusive and sustainable growth.

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