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Anwar says KWAP to put up to RM3bil in shariah-compliant investments
Published on: Tuesday, May 28, 2024
By: FMT, Lynelle Tham
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Anwar says KWAP to put up to RM3bil in shariah-compliant investments
Prime Minister Anwar Ibrahim delivering the keynote address at the Global Forum on Islamic Economics and Finance in Kuala Lumpur today.
Kuala Lumpur: The Retirement Fund Incorporated (KWAP) is set to invest up to RM3 billion in shariah-compliant investments through its Dana Pemacu vehicle, says Prime Minister Anwar Ibrahim.

Anwar, who was delivering the keynote address at the Global Forum on Islamic Economics and Finance (GFIEF) here, said the initiative aims to support high-growth domestic Malaysian companies and catalyse the venture investment ecosystem.

He also announced that the Securities Commission (SC) will establish Malaysia’s first Social Exchange, a structured approach for the participation of private capital in projects with positive social outcomes.

“This will benefit entities such as NGOs, social enterprises and state Islamic religious councils,” said Anwar, who is also the finance minister.

He added that the government is set to introduce a “new dimension” to its sukuk issuance.

“We plan to finalise this sukuk by 2025 as we work to complete all required arrangements and preparations,” he said.

Anwar also highlighted Malaysia’s commitment to innovating sukuk structures, especially to meet the needs of climate and energy transition.

He said Malaysia would spearhead the development of a global programme for Islamic economists which aims to cultivate a cadre of dynamic and highly skilled experts in the field.

Anwar said these economists would be equipped with the knowledge and expertise in Islamic economics to ideate solutions that address contemporary global challenges.

He said the multi-track programme would offer executive education, applied research and working internships for participants to gain professional experience.

GFIEF is a two-day event organised by Bank Negara Malaysia in collaboration with the SC, the World Bank Group, the Islamic Development Bank and other agencies.

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