Nor Azidah Mohd Zahari
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Capital Market Masterplan 3: Strengthening Malaysia’s Islamic Capital Market for Sustainable Growth: Rencana Induk Pasar Modal 3: Memperkuat Pasar Modal Islam Malaysia untuk Pertumbuhan Berkelanjutan Muhamat, Amirul Afif; Mohamad Nizam Jaafar; Nor Azidah Mohd Zahari
PROCEEDING INTERNATIONAL BUSINESS AND ECONOMICS CONFERENCE (IBEC) Vol. 4 No. 1 (2025): Inspiring Change: Innovating Together for the Future of the Economy
Publisher : Sekolah Tinggi Ilmu Ekonomi Eka Prasetya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47663/ibec.v4i1.407

Abstract

The Capital Market Masterplan 3 (CMP3), introduced by the Securities Commission Malaysia in 2021, provides a strategic five-year framework to advance Malaysia’s Islamic Capital Market (ICM). It aligns Shariah-compliant finance with global sustainability objectives, digital innovation and financial inclusion. This paper examines CMP3’s six strategic pillars catalyzing competitive growth; empowering investors; shaping the stakeholder economy; embedding shared accountability; prioritizing efficiency outcomes; and embracing technology and assesses their grounding in Maqasid al-Shariah and ESG principles. Drawing on qualitative policy analysis and market statistics, this study shows how CMP3 enhances market resilience, broadens access for MSMEs and mid-tier firms, and positions Malaysia as a global Islamic finance hub. This study concludes with recommendations to strengthen regulatory support, harmonize Shariah governance and accelerate digital transformation to realize CMP3’s vision fully.