Voskoboynik Yuliya , Imamkulieva Elmira

The Evolution of Legal Regulation for the Islamic Financial Sector in Malaysia

ЮГО-ВОСТОЧНАЯ АЗИЯ: АКТУАЛЬНЫЕ ПРОБЛЕМЫ РАЗВИТИЯ, 2024, №2(63), 221-228

 
Annotation: The article examines the development of the legal and regulatory framework for the Islamic financial industry in Malaysia. It identifies the factors that have contributed to Malaysia's success, including the agility of its regulatory framework, the synergy between Islamic and conventional finance, strong governmental support, investment in human capital, and alignment with global trends in sustainable development and fintech. The conclusion emphasises Malaysia's commitment to developing a globally recognised Islamic finance sector. It highlights the importance of continued innovation, risk management, and consumer protection.

Keywords: Islamic Finance, Islamic Financial sector, Malaysia, regulatory framework, dual financial system