PETALING JAYA: CIMB Group Holdings Bhd has affirmed its commitment to developing an innovative instrument to advance Malaysia’s Islamic capital markets, in line with the Securities Commission Malaysia (SC) Capital Market Masterplan 2026-2030 (CMP).
CIMB will collaborate with the SC and Bursa Malaysia on a pilot project under SC’s ICM Innovation Lab (FIKRALab).
The innovation aims to broaden the investible universe for syariah-compliant funds to participate in Asean’s Islamic banking growth.
CIMB enters this next phase from a position of strength, being one of Asean’s leading Islamic banking franchises.
Guided by its purpose of advancing customers and society, the group continues to deepen its Islamic banking franchise as a core growth pillar.
Today, more than half of its Malaysian financing book is syariah-compliant, while CIMB Niaga in Indonesia is in the process of spinning off its Islamic banking business to be a full-fledged Islamic bank.
CIMB Group CEO Novan Amirudin said the CMP charts an ambitious direction for Malaysia’s capital markets, and the bank is grateful to be part of this pilot project, supporting the SC in bringing that vision to life.
“CIMB’s participation reflects our continued advocacy in the capital market and digital innovation.
“Our Islamic franchise has reached meaningful scale, and we see a significant opportunity to further unlock this value by providing new syariah-compliant structures to investors with a syariah mandate,“ he said.
This collaboration is aligned with CIMB’s Forward30 strategy, where Islamic finance is a key priority growth engine anchored on scale, innovation and sustainability.
As the CMP emphasises innovation, resilience and international competitiveness, CIMB’s proactive collaboration underscores its role not merely as a market participant, but as a contributor to the next phase of capital market evolution in Malaysia.
The SC has launched the FIKRALab as part of its efforts to drive the next phase of growth in the Islamic capital market (ICM).
The platform introduced under the Capital Market Masterplan 2026-30 is designed as a co-creation and applied research hub to develop new syariah-compliant financial products and solutions. It builds on earlier initiatives such as the FIKRA fintech accelerator, but expands the focus beyond fintech to include broader industry collaboration in product design, research and pilot testing.
FIKRALab will prioritise innovations aligned with Maqasid al-Shariah, with an emphasis on delivering real economic value and wider social impact.
The SC said the aim is to strengthen the role of Islamic finance in supporting sustainable and inclusive growth, while ensuring closer links to the real economy.
A key component of the initiative is the introduction of Maqasid al-Shariah clinics, which will bring together regulators, industry players and syariah experts to review and enhance existing ICM products. These sessions are intended to improve value propositions and reinforce the social and economic contributions of Islamic financial instruments.
The programme will be rolled out in phases. A pilot project is currently underway in collaboration with a financial institution to develop a new instrument to unlock Shariah-derived income within mixed-activity groups.
The first intake for FIKRALab is expected to open in the fourth quarter of 2026, with annual cohorts planned thereafter.
Initial focus areas include next-generation ICM products, Islamic social finance and sustainability-linked solutions.
The SC has invited financial institutions, technology firms, academics and other industry participants to submit proposals by Sept 30.
