INCEIF, 19 August – A wide range of topics from COVID-19, the Malaysian economic outlook to opportunities for Islamic finance post pandemic was discussed in a fireside chat with Bank Negara Malaysia Assistant Governor Fraziali Ismail today.
AG Fraziali oversees the areas of financial surveillance, prudential regulations, consumer and market conduct, money services business regulations as well as communications.
Held on campus with INCEIF faculty members and Isra researchers, the informal session saw AG Fraziali and the audience having a frank discussion and exchange of opinions on the state of the nation’s economic and financial situation while facing an unprecedented crisis.
The session, moderated by INCEIF PCEO Prof Dato’ Dr Azmi Omar, briefly touched on BNM’s latest report card on Malaysia’s economic outlook and financial stability, particularly in the wake of the health and economic crisis caused by the COVID-19 pandemic. The audience also shared their views on BNM’s initiatives to cushion the economic and financial impact of the pandemic, particularly the financial moratorium.
The pandemic, while causing a simultaneous shock globally, also provided opportunity to drive home the importance of digital adoption by the public in their daily transactions.
It also offered a shot for Islamic finance to highlight the potential use of Islamic social instruments to help companies and individuals economically and socially affected by the pandemic. The outbreak might also create new opportunities for Islamic finance markets by accelerating trends such as socially responsible investing and sustainability.
INCEIF looks forward to hosting more such sessions, not only with BNM but other policy makers, industry experts and scholars, as part of its vision to be a knowledge leader and bridge the gap between academic and other think tanks that shaped society.