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Revitalising the economy via Islamic finance

· Abdul Rasheed Ghaffour, Governor of the Bank Negara Malaysia (Malaysia)

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· Abdul Rasheed Ghaffour · Bank Negara Malaysia WikiRevitalising the economy via Islamic finance

ContextSpeech at the 19th Kuala Lumpur Islamic Finance Forum; Bank Negara Malaysia keeps the financial system sound and develops Malaysia's large Islamic finance sector.

Why it mattersMalaysia's governor asks Islamic finance to prove its real economic impact with better measurement.

Problems raised
  1. Islamic finance must show real economic impact.
  2. Value-based intermediation is not yet widely applied.
  3. Impact is hard to measure.
Solutions proposed
  1. Implement value-based intermediation more intensely.
  2. Use sectoral guides and the Maqasid Shariah Scorecard.
  3. Measure impact more effectively.
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