Malaysia to Re-evaluate Islamic Banking Structure: PM Anwar Ibrahim's Call for Reform

Malaysia's Prime Minister Anwar Ibrahim calls for a re-evaluation of the structure of Islamic banking, urging a shift from simply eliminating riba to a more comprehensive approach that aligns with the principles of Maqasid Syariah. The announcement, made during a recent address at Sasana Kijang in Kuala Lumpur, highlights concerns that the current system does not sufficiently address issues of justice, sustainability, and humanity. "It's time to reassess the fundamentals," the PM stated, emphasizing the need for a more holistic approach to Islamic finance. The initiative is expected to spark debate and potentially lead to significant reforms in the Malaysian Islamic banking sector, impacting millions. The video includes footage of the PM's speech and attendees at the event.