KANGAR: The growing Islamic financial ecosystem in Malaysia has the potential to attract more investments, not only from Islamic countries but also from investors who prioritise ethical principles and social responsibility. Associate Prof Dr Mohd Zukime Mat Junoh, senior lecturer at the Faculty of Business and Communication, Universiti Malaysia Perlis, said that one of the attractions of the Islamic financial system is its adherence to syariah requirements, transparency, and ethics, as well as its diversified investments. He said investors from Islamic countries seek investment opportunities that comply with syariah principles, and the developing Islamic finance sector offers various products and services that meet these needs. “Islamic finance emphasises principles of transparency, fairness, and social responsibility, offering an attractive alternative for global investors – including from non-Islamic countries – seeking to diversify their investments due to its stability and ethical investing,” he told Bernama. Mohd Zukime was commenting on Prime Minister Datuk Seri Anwar Ibrahim’s speech at the Global Forum on Islamic Economics and Finance last Tuesday, where he emphasised that Islamic finance ecosystem needs to evolve by focusing on value-based finance, moving beyond profit-driven motives. Wealth should be shared to uplift communities and investments should ensure balanced prosperity. During the event, Anwar also announced an allocation of RM100mil to boost more innovation in Islamic finance. Commenting further, Mohd Zukime said the Islamic financial ecosystem – which is based on justice, balance, and social responsibility, at the same time emphasising the sharing of risks and profit and prohibiting usury and excessive speculation – must continue to advance to benefit the country’s economy.
