PUTRAJAYA, MALAYSIA, March 18^th 2023 – IsDB Group and Malaysia are examining ways to strengthen bilateral ties while looking into the potential for strategic cooperation in a number of areas including Halal economy, Islamic Finance, Digitalization, Supporting MSMEs, STI ecosystems development, Renewable Energy, Vaccine Production and strengthening the role of IsDB’s Center of Excellence in Kuala Lumpur.

Mr. Amer Bukvic, Acting Director General Global Practices and Partnerships (DG GPP) headed an IsDB Group delegation to Malaysia during the period 15-18 March 2023 and included Mr. Saleh Jelassi, Director of Partnership, Global Advocacy & Resource Mobilization, Mr. Mohamed Abida, Head, Center of Excellence in Kuala Lumpur (KLCoE), Mr. Ahmed Khalid Asia Regional Head, ICD, Mr. Aminuddin Mat Ariff, Sr Technical Cooperation Specialist, Mr. Mohamed ElSaket, Country Economist and Mr. Mohd Takyuddin, Head of Admin, KLCoE

The delegation met the Honorable Minister of Economy, Mr. Rafizi Ramli, to explore ways and means to strengthen the cooperation between IsDB Group and Malaysia in preparation of the Strategic Partnership Framework particularly IsDB support to the scale-up of Medium Enterprises and their expansion in OIC Member Countries in Africa, CIS Region and Latin America as well as financing development projects and promote Foreign Investment in Malaysia. The meeting also discussed the important role of IsDB for exchanging successful models and impactful solutions between Malaysia and other IsDB Member Countries.

The Honorable Minister of Foreign Affairs Dato’ Seri Diraja Dr. Zambry Abd Kadir also granted an audience with the delegation to explore opportunities for strengthening the cooperation between IsDB Group and Malaysia in preparation of the Strategic Partnership Framework particularly benefitting IsDB Member Countries from the developmental model of Malaysia and expanding the technical cooperation and reverse linkages between Malaysia and other IsDB Member Countries. The meeting also discussed the support of the Government of Malaysia to IsDB and its commitment to its subscription to the capital increase of the Bank.

The delegation also paid a courtesy call to Mr. Abu Bakar Salleh, Undersecretary, International Division of the Ministry of Finance (IsDB Governor Office) to discuss the preparation of the Strategic Partnership Framework between IsDB Group and Malaysia under the Member Country Partnership Strategy (MCPS) process including strengthening the role of IsDB Center of Excellence in Malaysia taking into consideration the development needs and priorities of the new Malaysian Government. The meeting also discussed the support of the Government of Malaysia to IsDB and its commitment to its subscription to the capital increase of the Bank.

In the meeting with Dato’ Marzunisham Omar, Deputy Governor of the Central Bank of Malaysia (BNM), discussions were focusing on ways and means to strengthening  the cooperation between IsDB and BNM particularly in designing innovative Islamic Finance Products and Blended Islamic Social Finance in order to support MSMEs in the climate transition and access to affordable finance, as well as effective technical cooperation mechanisms for the benefit of other IsDB Member Countries.

In the area of Science Technology & Innovation (STI), the delegation met Datuk Dr. Aminuddin Hassim, the Secretary General of Ministry of Science Technology & Innovation (MOSTI) to discuss areas of collaboration particularly possible contribution to financing the Halal Vaccine manufacturing in Malaysia, deploying Malaysian Innovative and Mature Solutions such as Fintech, Healthtech, Agritech to benefit IsDB Member Countries and sharing the Malaysian STI Ecosystem titled "10-10 Malaysia Science, Technology, Innovation, and Economy” (MYSTIE) Framework among other IsDB Member Countries.

Sharing and transferring the knowledge and practices in Halal economy, with other IsDB Member Countries is welcomed by Mr. Hairol Ariffein, Chief Executive Officer of Halal Development Corporation (HDC) and to build on the existing partnerships between HDC and IsDB Center of Excellence in Kuala Lumpur for promoting Halal Ecosystems in IsDB Member Countries and benefit them from the opportunities offered by the fast-growing Halal Market at the global level. The delegation also met Mr. Mohamed Arshad Ismail, Chief Executive Officer of EXIM Bank. Both parties explored opportunities for cooperation between IsDB Group and Exim Bank Malaysia particularly for supporting Malaysian companies to expand in other IsDB Member countries, mainly in Africa, CIS Region and Latin America as well as possible exchange of expertise and collaboration between Exim Banks of IsDB countries in a Forum similar to the Asian Exim Bank Forum.

The delegation also met Dato' Indera Ir. Baharin bin Din President / Chief Executive Officer of Tenaga Nasional Berhad (TNB) Malaysian leading electricity and renewable energy company to discuss opportunities for cooperation between IsDB group and TNB in supporting the transition to Renewable Energy and financing Energy Interconnection Projects as well as expanding TNB Operation in other IsDB Member Countries. The meeting also discussed the possibility of TNB Contribution to IsDB Reverse Linkage Initiatives like the Alliance to Fight Avoidable Blindness.

The Acting Director General Global Practices and Partnerships also visited Serunai Commerce, one of the key private sector stakeholders of IsDB Reverse Linkage initiatives and who developed a comprehensive digital Halal ecosystem to enhance the global Halal marketplace's connectivity and transparency. Ms. Amnah Shaari, the Chief Executive Officer reiterated Serunai’s commitment to continue supporting the Reverse Linkage program and pledged an additional USD 10 Million for this initiative.