KUALA LUMPUR, Sept 11 (Bernama) -- Malaysia is ready to take the lead in building an integrated halal–Islamic finance economy that will deliver inclusive growth and prosperity, not only for Muslims, but also for the global community, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said.
He said the country’s strong governance framework, underpinned by the Islamic Financial Services Act 2013, continued to inspire confidence and stability in the sector by providing clarity, protection and credibility to investors and consumers.
“Leadership is built on trust, and at the heart of Malaysia’s Islamic finance is a governance framework that inspires confidence and stability,” he said in his keynote address at the Global Islamic Finance Summit (GIFS) 2025 here today.
He said Malaysia’s credibility in Islamic finance is further reinforced by strict enforcement measures with penalties of up to RM25 million and custodial sentences of up to eight years for breaches, ensuring the integrity of the industry.
Moving forward, Ahmad Zahid said Malaysia has outlined three priorities to strengthen its role in the global halal–Islamic finance ecosystem.
The first is to mainstream halal financing as a growth driver across strategic sectors such as food, healthcare, tourism, and technology.
The second is to accelerate human capital development by producing halal auditors, executives, and professionals who uphold global standards of integrity.
“The third is to reaffirm Malaysia’s role as a global standard-setter through renewed platforms such as the World Islamic Economic Forum (WIEF) and the Global Islamic Finance Forum, shaping the international agenda,” he said.
Ahmad Zahid said the vision beyond these priorities is to elevate the meaning of halal certification beyond food safety and religious compliance to also encompass the legitimacy of the wealth behind it, free from prohibited elements such as usury (riba’).
“Halal must embody not only what enters our mouths but also the integrity of how it is produced, financed and delivered to our tables.
“This is the true vision of a holistic halal economy, pure in both substance and spirit,” he added.
The GIFS is an annual summit, held to celebrate the achievements of individuals, institutions and governments in promoting and advancing Islamic banking and finance and ensuring that it remains committed to social responsibility.
-- BERNAMA
