BNM deputy governor urges Malaysia and Indonesia to collaborate in Islamic finance and fintech, highlighting bright prospects and the need for harmonization within ASEAN.
25 April 2024 – Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani has called for closer collaboration between leading Islamic finance countries in the ASEAN region, particularly Malaysia and Indonesia. Adnan emphasizes the bright prospects for both Islamic finance and financial technology (fintech), stressing the importance of harmonization and standardization within the sector.
Speaking at the KL20 Summit 2024, Adnan highlighted the potential for greater fluidity in financial services across ASEAN countries through collaboration. He noted that Malaysia is likely to propose strengthening its financial offerings, including Islamic fintech, during its ASEAN chairmanship next year.
Adnan emphasized Malaysia’s framework for banks to collaborate in Islamic fintech and the opportunities it presents for complementing digital banks. He also pointed out the extensive range of products in Islamic financial services and their role in enhancing financial inclusion and supporting environmental, social, and governance (ESG) agendas. – ref: The Edge
