The MIFC-UK Business Forum in London brought together Malaysian and UK financial stakeholders to explore the role of Islamic finance in green investments and cross-border partnerships. Key discussions focused on leveraging Islamic finance for sustainability, with both nations committed to advancing their economic and environmental goals.
11 September 2024 – Today, London was the venue for the MIFC-UK Business Forum, a pivotal event uniting key financial stakeholders from Malaysia and the UK. This forum, co-organised by Bank Negara Malaysia (BNM) and the MIFC Leadership Council (MLC) in collaboration with the Islamic Finance Council United Kingdom (UKIFC), TheCityUK, and UK Islamic Finance – Halal Economy Hybrid Group, focused on exploring the opportunities and challenges in promoting green investments with a broader application of Islamic finance solutions.
The forum aimed to bolster the Malaysia-UK partnership in fostering cross-border investments, particularly within the green sector. The event underscored the potential of Islamic finance to address global funding gaps and support sustainable economic development. His Royal Highness Sultan Nazrin Muizzuddin Shah, Royal Patron of Malaysia’s Islamic Finance initiative, highlighted in his keynote address that Islamic finance, with its ethical principles and risk-sharing framework, is well-suited to support sustainability and offer diverse funding options.
With Malaysia’s green investment funding needs projected to reach RM1.2 trillion to RM1.3 trillion by 2050, Islamic financial instruments are poised to play a critical role. The forum’s discussions emphasized the importance of fostering industry collaboration in cross-border trade and financing, maximizing innovative Islamic finance instruments, and advancing capacity building and research.
Bank Negara Malaysia Governor Dato’ Seri Abdul Rasheed Ghaffour reiterated Malaysia’s commitment to achieving Net Zero by 2050 through strategic frameworks and highlighted Islamic finance’s potential to support this vision. MLC Chairman Tan Sri Azman Mokhtar expressed confidence in the dynamic partnership between Malaysia and the UK, emphasizing the role of Islamic finance in fostering long-term, sustainable economic growth.
The half-day event, attended by over 140 participants, including government officials, financial regulators, and global market investors, concluded with a call for enhanced partnerships to leverage technology and improve Islamic finance services in the UK, aiming for impactful investments in a sustainable future.
