Artificial Intelligence (AI) is transforming the landscape of Islamic finance, as highlighted during the Global Islamic Finance Forum (GIFF) 2025 in Kuala Lumpur. The session, titled “Revolutionising Islamic Finance – Transformative Role of Artificial Intelligence,” brought together industry leaders to discuss AI’s potential to enhance efficiency, uphold ethical standards, and broaden financial inclusion.

Moderated by Suhaimi Ali, Assistant Governor of Bank Negara Malaysia, the panel included Chris Skinner, CEO of The Finanser; Sami Aftab Mian, CEO of Blade Labs; Dr. Qasim Nasar-Ullah, Director of Arabesque SG Pte Ltd; and Goh Peng Ooi, Founder and Group Executive Chairman of Silverlake. Suhaimi noted that Malaysian financial institutions are increasingly using AI for customer analytics and fraud prevention, stressing the importance of maintaining ethical commitments.

Chris Skinner discussed the shift towards a data-centric model, where AI facilitates real-time decision-making and financial inclusion. He emphasised the synergy between AI and blockchain in ensuring transparency: “If I invest in a green sukuk bond, I should know that the money reached the project it was meant for.”

Sami Aftab Mian highlighted AI’s role in process automation and product innovation, stating, “The goal is not to replace human roles but to elevate them.” He stressed the need for AI to be grounded in Sharia-based principles to avoid becoming a “black box.”

Dr. Qasim Nasar-Ullah pointed out the importance of transparency in AI models, referencing regulatory frameworks like the Monetary Authority of Singapore’s FEAT principles. Goh Peng Ooi underscored data integrity, likening Islamic finance principles to AI’s reinforcement learning structures.

The session concluded with a call for collaboration among regulators, innovators, and scholars to ensure AI strengthens ethical finance. “AI can only strengthen the financial system if it serves humanity and upholds trust,” Suhaimi concluded.

Genting Berhad has announced plans to acquire the remaining 50.64% of Genting Malaysia for RM67b, equating to RM2.35 per share. The acquisition aims to secure a clear majority control, enabling Genting Berhad to better support Genting Malaysia’s bid for a New York casino licence. The purchase will be primarily funded by RM63b of new debt.

The move is significant as it positions Genting Berhad to potentially increase its influence and operational capabilities within the gaming sector. Should Genting Malaysia secure the New York casino licence, Genting Berhad’s leverage is expected to rise considerably due to the proposed $5.5b (RM23b) investment required for the project.

Shareholders of Genting Singapore could see indirect benefits if Genting Berhad decides to seek higher-than-expected dividends from Genting Singapore to assist in servicing the group’s debt. This strategic financial manoeuvre could impact the company’s overall financial health and shareholder returns.

DBS has maintained a “Hold” rating for Genting Singapore, with a target price of S$0.80, reflecting the potential indirect benefits and financial implications of the acquisition. The development underscores Genting Berhad’s strategic efforts to expand its footprint in the lucrative casino market, particularly in the US.

The acquisition and its implications will be closely watched by investors and industry analysts, as it could reshape the competitive landscape in the global gaming industry.

OpusSoft, a Kuala Lumpur-based startup, has launched OpusSoft 3.0, Malaysia’s first Software-as-a-Service (SaaS) journal management system. This new version, powered by artificial intelligence (AI) and automation, promises to streamline the entire journal publishing process, from submission to peer review to final publication, significantly reducing the time and effort required.

The latest release introduces four key features designed to address challenges in research publishing workflows. The Galley Proof feature automates journal-specific formatting in under 10 seconds, replacing a process that traditionally took days. An AI-powered Reviewer Recommendation Engine helps editorial boards identify high-calibre reviewers based on research expertise and collaboration history. The system is also integrated with Crossref, allowing for efficient Digital Object Identifier (DOI) registration and assignment. Additionally, the Web Publishing feature enables direct publication of papers with DOIs to journal websites with a single click.

Ramesh Balakrishnan, CEO of OpusSoft, stated, “Our enhanced OpusSoft platform, powered by AI and automation, streamlines the entire workflow of journal publishing. This improves efficiency and increases productivity of the journal editorial team.”

OpusSoft’s clients include prominent Malaysian journals and organisations such as the Malaysian Journal of Microbiology and the National Cancer Society of Malaysia. The company plans to expand regionally across Southeast Asia within the next 12 months, introducing multilingual capabilities and customisation options to meet diverse market needs.

With support from a grant by Cradle Fund, a Malaysian government agency, OpusSoft is poised to transform Malaysia’s publishing industry, enhancing the global visibility and impact of its research.

Malaysia’s Prime Minister, Anwar Ibrahim, inaugurated the Global Islamic Finance Forum (GIFF) 2025 in Kuala Lumpur on 13 October, as the Islamic finance industry targets US$7.5t in assets by 2028. The forum, organised by the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) with support from Bank Negara Malaysia, aims to advance business and empower communities through Islamic finance.

The opening session, titled “Unlocking the Power of Intra-OIC Investment,” highlighted the potential of Islamic finance to unify Organisation of Islamic Cooperation (OIC) member nations, fostering trade, investment, and sustainable growth. Panellists included Dr. Mahmoud Mohieldin, UN Special Envoy for Financing Sustainable Development; Dr. Sami Al Suwailem, Acting Director General of the IsDB Institute; and Professor Emeritus Dato’ Dr. Mohd Azmi Omar, President and CEO of INCEIF University.

Dr. Mohieldin emphasised the need for OIC countries to triple their efforts to achieve equitable growth, addressing a USD1 trillion funding gap for sustainable development. He advocated for regional solutions that localise finance and invest in human capital. Dr. Al Suwailem introduced a digital counter-trade platform initiative by the Islamic Development Bank Institute, leveraging fintech and blockchain to facilitate trade without hard currency.

Professor Omar highlighted Malaysia’s success in Islamic finance, stressing the importance of regulatory depth, talent development, and government commitment. He urged harmonised regulations and digital platforms to democratise access to Islamic investment instruments.

The session underscored the importance of human capital, trust, and regional cooperation for intra-OIC prosperity, with a focus on investing in the youthful population to drive innovation and economic growth. Dr. Mohieldin concluded by calling for improved data transparency and better communication of OIC countries’ economic strengths to global markets.

The M∙A∙C Clinic Publika officially opened its doors in Kuala Lumpur yesterday, with the ceremony officiated by Nancy Shukri, Malaysia’s Minister of Women, Family and Community Development. The event was attended by prominent figures from the local industry and community, marking a significant addition to the region’s healthcare landscape.

Located in the bustling area of Publika, the clinic is set to offer a range of health services aimed at improving community well-being. The opening of this clinic is seen as a step forward in providing accessible healthcare options to the residents of Kuala Lumpur. Nancy Shukri highlighted the importance of such initiatives, stating that they play a crucial role in enhancing the quality of life for families and individuals in the area.

The launch of M∙A∙C Clinic Publika is part of a broader effort to expand healthcare services across Malaysia, addressing the growing demand for quality medical care. The clinic’s strategic location in Publika is expected to serve a diverse population, offering both general and specialised medical services.

As the healthcare sector continues to evolve, the opening of new facilities like M∙A∙C Clinic Publika underscores the commitment to meeting the needs of the community. This development is anticipated to contribute positively to the local healthcare infrastructure, providing residents with more options for their medical needs.

Malaysia is set to host the Kuala Lumpur Sustainability Summit (KLSS) 2025 from 14 to 16 October at the Kuala Lumpur Convention Centre. Organised by the Ministry of Natural Resources and Environmental Sustainability and the Ministry of Economy, the event aims to advance climate change action and sustainable development across Southeast Asia. The summit, led by the Malaysian Green Technology and Climate Change Corporation, will bring together more than 400 participants from government, business, academia, and civil society.

With the theme “Inclusivity and Sustainability,” KLSS 2025 seeks to position Malaysia as a leader in promoting climate resilience and sustainable economic transformation. Acting Group CEO of the Malaysian Green Technology and Climate Change Corporation, Saiful Adib Abdul Munaff, emphasised the summit’s goal to transition from conceptual ideas to tangible implementation, stating, “We aim to transition from conceptual ideas to tangible implementation, from commitment to measurable outcomes.”

The summit will feature keynote addresses and dialogues with international figures, including Selwin Charles Hart, Special Adviser to the UN Secretary-General on Climate Action, and Robert Gass, UN Resident Coordinator for Malaysia, Singapore, and Brunei. Malaysian voices such as Datuk Seri Johari Abdul Ghani, Minister of Plantation and Commodities, and Izlyn Ramli, CEO of Maybank Foundation, will also be highlighted.

A notable segment of the summit is the MGTC x Bloomberg Series, which will present research insights and panel discussions on sustainable finance and energy transition. The event will conclude with the Kuala Lumpur Declaration on Climate Resilience, a commitment to accelerate climate adaptation and mitigation efforts. As ASEAN Chair in 2025, Malaysia aims to amplify Southeast Asian voices in global climate action.

Bank Pembangunan Malaysia Berhad (BPMB) Group, alongside its subsidiaries SME Bank and EXIM Bank, has been tasked by the Malaysian Government to lead strategic initiatives exceeding RM9b under Budget 2026. These initiatives aim to bolster Malaysia’s economic transformation by focusing on impact-driven financing, export facilitation, and the development of the SME ecosystem, aligning with the Ekonomi MADANI vision.

The Government’s confidence in BPMB’s ability to deliver high-impact financing solutions is underscored by these initiatives, which coincide with the start of the Thirteenth Malaysia Plan (RMK13). The Group is committed to balancing fiscal consolidation with accelerated economic development, promoting innovation, and enhancing the well-being of the Rakyat.

Key programmes include the Semiconductor Financing Programme, with RM500m allocated to support Malaysia’s role in the global semiconductor value chain, and the MADANI Development Programme, which will channel RM3b into public infrastructure and national security. Additionally, RM1b is earmarked for the Urban Renewal and Tourism Programme to revitalise urban areas and tourism industries.

These new mandates will complement BPMB’s existing programmes, which focus on sectors such as renewable energy, sustainable development, and digital infrastructure. By aligning with national strategies like NIMP 2030 and the Energy Transition Roadmap, BPMB aims to support Malaysia’s transition towards a more innovative and sustainable future.

Penang is set to become a focal point for Korean innovation this November, as it hosts the K-Beauty Expo Malaysia 2025 and K-MediTech Expo Malaysia 2025 at the Penang Waterfront Convention Centre. Running from 20 to 22 November, these expos will highlight the latest advancements in beauty and medical technology from Korea, offering free admission to pre-registered visitors.

The K-Beauty Expo Malaysia 2025, organised by KINTEX and sponsored by the Malaysia Convention & Exhibition Bureau (MYCEB) and Penang Convention & Exhibition Bureau (PCEB), will bring the forefront of Korean beauty to Malaysia. Attendees can expect to see cutting-edge skincare, cosmetics, and medical aesthetic technologies, with opportunities to engage in live demonstrations and explore high-quality products from leading K-beauty brands.

Simultaneously, the K-MediTech Expo Malaysia 2025 will provide a comprehensive look at Korea’s healthcare and medical technology advancements. With over 150 exhibitors, the event will showcase innovations in medical devices, healthcare IT, pharmaceuticals, and wellness. Visitors will have the chance to interact with the latest equipment and attend expert demonstrations, gaining insights into solutions that enhance healthcare accessibility and efficiency.

Both expos promise interactive experiences, including live presentations and hands-on activities. Attendees can also participate in on-site events for a chance to win limited K-Beauty gifts and AEON vouchers. The expos aim to offer a unique opportunity to experience the forefront of beauty and healthcare innovations in one visit.

PwC Malaysia has welcomed the Government’s Budget 2026, which focuses on consolidating existing tax measures and enhancing enforcement. Steve Chia, Tax Leader at PwC Malaysia, praised the Government’s decision to pause expansionary tax measures, opting instead for a more strategic approach to tax governance and social outcomes.

Budget 2026 aims to save RM15.5 billion annually through subsidy rationalisation, including for RON95 fuel, allowing these funds to be redirected to targeted groups. Personal tax reliefs have been expanded to include life insurance for children and vaccination relief for all approved vaccines. Additionally, childcare fee relief now covers registered centres for children up to 12 years old.

The budget underscores the Government’s commitment to tax enforcement, building on previous initiatives like the Tax Identification Number and e-Invoicing. Chia noted that whilst the budget sets a clear tone for strengthening tax governance, the success of these reforms will depend on their implementation.

In a bid to boost high-growth sectors, the Outcome-Based Incentive Framework will be fully implemented for manufacturing and services in 2026. This aligns tax incentives with national priorities such as semiconductors and AI. Enhanced venture capital incentives aim to support start-ups in strategic areas like energy transition.

Property measures include extending stamp duty exemptions for first-time homebuyers and increasing rates for non-citizens to kerb speculation. A special tax deduction for converting commercial properties to residential use is also proposed.

Sustainability efforts are highlighted with the introduction of a carbon tax and expanded tax relief for sustainable consumption. These measures are expected to drive investment in low-emission technologies and promote greener behaviours among Malaysians.

Over 200 professionals from the hospitality and food and beverage (F&B) sectors convened at the EQ Kuala Lumpur on 25 September for the inaugural FutureFWD 2025 conference. Organised by Saladplate.com in partnership with Food & Hospitality Malaysia, the event aimed to explore transformative forces reshaping the global hospitality and F&B landscape.

The conference featured a comprehensive programme with keynote presentations, panel discussions, and sessions focused on sustainability, technology, and consumer trends. Debbie Yong, founder of Atypical Media and former Regional Editorial Director at the Michelin Guide, emceed the event, guiding attendees through discussions that challenged industry conventions.

Key topics included business reset strategies, emerging sustainability practices, tech-driven innovations, shifting consumer behaviours, and hospitality design concepts. Sarissa Rodriguez-Schwartz, co-founder and CEO of SJS Group, praised the event, stating, “Being part of this exceptional gathering of thought leaders who came together to explore the transformative forces reshaping our industry was truly inspiring.”

Kristian Olsen, founder and managing director of Type A, highlighted the strategic focus of discussions, noting how leaders are addressing industry and audience shifts. Jing Yong, Growth Director for Greater China at GlobalData, and Emma Maxwell, founder of Emma Maxwell Studio, also shared insights on authenticity, heritage, and design in the industry.

FutureFWD 2025 provided extensive networking opportunities, fostering collaboration and new partnerships. The conference concluded with optimism, acknowledging the challenges of rapid technological change and sustainability pressures, whilst emphasising innovation and collaboration as keys to future progress.