Transforming the Islamic Finance Landscape in Malaysia: Contribution of Policymakers

Transforming the Islamic Finance Landscape in Malaysia: Contribution of Policymakers

Wednesday, 20 May 2015 - 3:00pm to 5:00pm
Venue: 
Syndicate Room, Old Main Building
Speaker(s): 
Adam Ng (Securities Commission Malaysia-Oxford Centre for Islamic Studies Scholar in Residence in Islamic Finance)
Chair: 
Matthew Walton (Oxford)
Convenor: 
Matthew Walton (Oxford)
Series: 
Southeast Asia Seminar

As a leading international marketplace for Islamic finance, Malaysia has developed a progressive and comprehensive Islamic finance ecosystem that has grown from strength to strength over the last 30 years. The ecosystem provides a conducive and vibrant environment that is characterised by active Islamic financial markets and well-established financial infrastructure, underpinned by sound regulatory, supervisory, legal and Shari’ah framework, and reinforced by skilled talent pool with global capabilities. Central to these progress and achievements is the pivotal role of policymakers such as the Central Bank of Malaysia (BNM) and the Securities Commission Malaysia (SC). This presentation will discuss the roles and contributions of BNM and SC in the development of Islamic finance industry in Malaysia with an emphasis on the internationalisation phase given the significant growth of the industry at the beginning of the 21st century.

Adam Ng is the Securities Commission Malaysia-Oxford Centre for Islamic Studies Scholar in Residence in Islamic Finance (2014-2015). He is also an Assistant Professor at the International Centre for Education in Islamic Finance (INCEIF) and a fellow at the Royal Society of Arts. He is the co-author of Social Capital and Risk Sharing (forthcoming in Palgrave Macmillan), a book that seeks to harness social capital as one of the fundamental building blocks in the design of the Islamic financial industry. Prior to joining the academia, Adam was involved in the establishment and institutional development of the International Islamic Liquidity Management Corporation and several financial infrastructure development initiatives during his service at the Central Bank of Malaysia. He received his PhD in Islamic finance from INCEIF as a Central Bank of Malaysia Shari’ah Scholarship holder and read law at University of Oxford and International Islamic University Malaysia.