CIMB Group Holdings Berhad announced on Mar. 27 its commitment to work with Securities Commission Malaysia and Bursa Malaysia Berhad to develop a new instrument aimed at advancing the country’s Islamic capital markets. The initiative is part of a pilot project under the Securities Commission’s ICM Innovation Lab, known as FIKRALab, which supports the Capital Market Masterplan 2026-2030.
The collaboration seeks to broaden investment opportunities for Shariah-compliant funds, enabling greater participation in ASEAN’s growing Islamic banking sector. This effort aligns with broader goals outlined in the masterplan, which focuses on innovation and competitiveness within Malaysia’s financial sector.
CIMB stated that it enters this partnership from a position of strength as one of ASEAN’s leading Islamic banking franchises. More than half of CIMB’s Malaysian financing book is already Shariah-compliant, and its Indonesian subsidiary CIMB Niaga is working towards establishing a standalone Islamic bank.
Novan Amirudin, Group Chief Executive Officer of CIMB Group, said, “The CMP charts an ambitious direction for Malaysia’s capital markets, and we are grateful to be part of this pilot project, supporting the SC to bring that vision to life. CIMB’s participation reflects our continued advocacy in capital market and digital innovation. Our Islamic franchise has reached meaningful scale, and we see significant opportunity to further unlock this value by providing new Shariah-compliant structures to investors with a Shariah mandate.”
The collaboration also fits into CIMB’s Forward30 strategy where Islamic finance serves as a priority growth area focused on scale, innovation and sustainability. As plans move forward under the masterplan framework, industry observers will watch how these partnerships contribute to evolving Malaysia’s role in regional Islamic finance.
