Malaysia Eyes Russian Investors As It Expands Islamic Finance Ecosystem
KUALA LUMPUR, June 24 (Bernama) -- The government, in collaboration with the Securities Commission Malaysia (SC), remains committed to developing a comprehensive Islamic finance ecosystem to attract investors, particularly from Russia.
The Ministry of Finance (MoF) stated that the SC has spearheaded several strategic cross-border initiatives, including plans for an exploratory visit to the Central Asian region in 2026 or 2027 under the internationalisation agenda of the Islamic capital market.
“The initiative aims to assess market readiness, strengthen stakeholder networks and develop an Islamic finance ecosystem that connects Malaysia with the region, including Russia.
“Malaysia also has the opportunity to expand the export of its shariah expertise following interest expressed by the Head of the Republic of Tatarstan in May 2025 to adopt Malaysia’s Islamic finance development model,” said the MoF on the Parliament website today.
These opportunities include the provision of professional services such as shariah advisory services, consultancy, training and capacity-building.
These efforts are supported through a series of bilateral meetings held by the SC with the Central Bank of Russia and the Saint Petersburg International Mercantile Exchange (SPIMEX) in 2023 and 2025.
The ministry was responding to Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) regarding the government's concrete measures to encourage Russian investors to invest in Malaysia’s Islamic finance sector, thereby strengthening Malaysia’s position as a global Islamic finance hub and attracting foreign capital flows based on shariah principles.
The MoF also said the SC will continue to enhance Malaysia's competitiveness through stronger regulatory frameworks, product innovation and expanded international collaboration under the Capital Market Masterplan 2026-2030 (CMP 2026-2030).
The ministry said the government continues to welcome legitimate and productive investments from Russia, subject to relevant domestic laws and international standards.
“Overall, Malaysia’s proactive approach is aimed not only at attracting foreign capital flows but also at serving as a bridge connecting Russian investors with global markets within a sustainable, transparent and inclusive financial ecosystem that is aligned with the principles of Maqasid al-Shariah,” it said.
-- BERNAMA