KUALA LUMPUR: Bank Negara Malaysia will issue a strategy paper and exposure draft of the Syariah Contract Framework this year.
Bank Negara governor Datuk Seri Abdul Rasheed Ghaffour said regulators, financial institutions, syariah scholars and the wider industry must work together to build an Islamic finance ecosystem that impactful innovation requires.
"The Digital Asset Innovation Hub, launched in June 2025, provides a platform for the industry to explore emerging technologies and use cases with real economic value," he said at the 21st Kuala Lumpur Islamic Finance Forum 2026 here yesterday.
"We are reviewing the Syariah Contract Framework to promote broader and more effective application of syariah contracts. We will issue a strategy paper and exposure draft this year.
"The next Financial Sector Blueprint will carry this broader shift. We want to align the financial sector more closely with Malaysia's future socioeconomic priorities. Our measure of success must also evolve in tandem."
Rasheed said Islamic finance could provide innovative risk-sharing solutions, especially where broader capital sources, structures and different risk profiles are needed.
Through i-CITA, launched last year, Bank Negara was facilitating industry learning in offering risk-sharing solutions for key areas such as food security and climate resilience, he said.
Looking forward, he noted that three priorities warranted focus.
First is the need to align strategies and capital with purpose. This means directing resources towards higher-value sectors and renewable energy, and strengthening resilience against climate and economic shocks.
The second focus is to innovate around real needs.
"We want to build on existing efforts to design solutions around the realities faced by households and businesses, particularly where needs remain underserved or unmet. This includes financial and technical support for the expansion of halal micro, small and medium enterprises.
"The third focus is to keep values at the centre. Fairness, integrity, empathy. These values must remain central to business decisions and market conduct," Rasheed said.
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