Bank Negara Malaysia published the outcomes of the Sixth Centralised Shariah Authorities Forum, held on 15 October 2025 in Kuala Lumpur, highlighting agreed governance arrangements for the forum and key policy and supervisory themes discussed across jurisdictions, including takaful regulation and the Shariah implications of emerging instruments such as central bank digital currencies. The meeting, chaired by the Chairman of the Bank Negara Malaysia Shariah Advisory Council, brought together more than 50 delegates from 10 participating countries alongside the Accounting and Auditing Organisation for Islamic Financial Institutions and the Islamic Financial Services Board as observers. On takaful, participants noted regulatory developments on the broader application of ta`awun (mutual assistance), and discussed legal reforms that recognise takaful funds as separate legal entities, with the Central Bank of the United Arab Emirates indicating plans to strengthen takaful fund governance through mechanisms such as a board of trustees and a fund charter. The forum also discussed Bank Negara Malaysia research on the credit nature of modern money and used that framework to explore Shariah considerations for digital money innovation, including CBDC. Looking ahead, Bank Negara Malaysia plans to issue a policy document by end of 2025 on the broader application of ta`awun in takaful, setting out Shariah and regulatory requirements, while the Central Bank of the United Arab Emirates plans further work to strengthen governance expectations for takaful funds.

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