Bank Negara Malaysia Foresees Positive Outlook for Islamic Finance Industry in the Next Decade
The assistant governor of Bank Negara Malaysia, Adnan Zaylani Mohamad Zahid, recently spoke at the Standard Chartered Islamic Financial Markets Forum 2023, where he highlighted the continued growth and development of the Malaysian Islamic financial market. With the outlook for the next five to 10 years being generally positive, Malaysia is well positioned to remain a major global Islamic financial center.
In addition, Adnan emphasized the need for new initiatives to advance the industry and promote wider participation and equitable wealth distribution. While the industry has grown in maturity, there is still much potential to be fulfilled based on the values of Islamic finance. He called for greater emphasis on driving growth, rather than just focusing on company and conglomerate profits.
The Standard Chartered Islamic Financial Markets Forum aimed to create a platform for key industry practitioners and regulators to share ideas and views and understand Islamic banking and finance better. As the industry continues to evolve and expand, forums like this are essential for facilitating collaboration and advancing the industry.
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