Independent Malaysian news, politics and national affairs.
Between 35 and 40 Members of Parliament have signalled their intent to participate in a special parliamentary session scheduled for August 11 to scrutinise the Royal Commission of Inquiry report into Tabung Haji's financial deterioration and problematic investment decisions.
Malaysia's Cabinet has approved the public release of a Royal Commission of Inquiry report into Tabung Haji's financial turmoil between 2014 and 2020, following years of recovery efforts that restored the pilgrims' fund to financial stability.
Malaysia is actively courting Russian investors by deepening its Islamic finance ecosystem. The Securities Commission plans exploratory visits to Central Asia in 2026-2027, while Tatarstan has expressed interest in adopting Malaysia's Islamic finance model.
Sime Darby Property's second real estate development vehicle, New Economy Venture, is raising RM2.6 billion through Islamic financing to expand its portfolio in growth-oriented economic sectors.
Bank Rakyat has successfully issued RM300 million in sukuk securities, drawing from its RM5 billion subordinated sukuk Murabahah framework to enhance financial stability and fund expansion plans.
A group of 111 investors has launched legal action against QEW Group Bhd and its directors over alleged losses of RM20.45 million from a Shariah-compliant investment scheme, raising fresh concerns about oversight of Islamic finance products.
Twenty participants in the iTEKAD CIMB Islamic-MAINPP Entrepreneur programme received motorcycles at a ceremony in Kepala Batas, Penang. The initiative aims to empower the asnaf community through delivery work and structured entrepreneurial support backed by RM400,000 in seed funding.