Former Bursa Malaysia chairman Tan Sri Abdul Wahid Omar calls for stronger coordination and more OIC banks to unlock the bloc’s economic potential.
KUALA LUMPUR: Organisation of Islamic Cooperation member states must strengthen coordination to boost intra-bloc trade, says former Bursa Malaysia chairman Tan Sri Abdul Wahid Omar.
He noted the combined GDP of Muslim-majority nations remains under USD 10 trillion despite a global Muslim population of 1.9 billion.
“Promotion and engagement among the OIC countries are crucial to develop further,” he said at the Global Muslim Business Forum 2025.
He stated facilitation by multilateral agencies like the Islamic Development Bank is key, though its penetration could be greater.
Abdul Wahid highlighted the need for more intra-OIC banks across member countries to smooth trade flows, citing the ASEAN banking model.
“I think the presence is still very much small and that’s something which I think can be developed further,” he added.
On investment, he urged OIC funds to adopt a purpose-based return approach instead of applying excessively high risk premiums.
He argued that overly high return expectations make investments in developing OIC nations less attractive despite strong value propositions.
“Therefore, I guess the request would be for many of these funds… to look at allocating more capital investments into more developing countries,” he said.
