Malaysia (Commonwealth Union)_ Prime Minister Datuk Seri Anwar Ibrahim was awarded the Global Islamic Finance Leadership Award 2025, a prestigious international recognition of his decades-long commitment to advancing Islamic finance both in Malaysia and globally. The award was presented by Professor Humayon Dar, Chairman of the Global Islamic Finance Awards (GIFA), during a ceremony held in conjunction with the annual GIFA Laureates event.
Also read: Sri Lanka’s Diplomacy Triumphs: Broad Coalition of Nations Defends Local Efforts at UNHRC!
In his acceptance speech, Anwar, who also serves as Malaysia’s finance minister, dedicated the award to the many unsung contributors working behind the scenes in the Islamic finance ecosystem, from policy advisors to regulators and practitioners. “I accept this not on my own behalf, but for all those who have worked tirelessly for years, often without public recognition,” he said. “I am merely a representative of the many who have contributed far more meaningfully to the success of Islamic finance.”
Established in 2011, the Global Islamic Finance Awards are considered one of the highest honors in the field. They honor people, institutions, and countries that have displayed exceptional leadership and creativity in advancing Islamic banking and finance as a viable alternative to the global financial system. Several international leaders and business pioneers have already received this honor. Anwar now joins an elite group of only 14 heads of state and government who have received the accolade, including Ethiopia’s Prime Minister and Nobel laureate, Abiy Ahmed.
Also read: Can Pakistan and Bangladesh Turn Talks into Tangible Results?
During his keynote talk, Anwar underlined the importance of Islamic finance, focusing on its revolutionary potential rather than asset growth and profitability indicators. “We must measure success not only by balance sheets but by how we improve lives, reduce inequality, and provide ethical solutions for global challenges,” he said. Anwar also urged players, including bankers and central banks, to show greater interest and leadership in applying Islamic financial principles to real-world issues like poverty, marginalization, and climate change.
Anwar cited Maqasid Shariah, the founding principles of Islamic law that stress justice, equality, and shared accountability, as the guiding framework that should continue to influence the sector. “These values are not just religious ideals,” he said. “They offer timeless principles for building a fairer and more resilient economic system.” He also stressed the significance of digital transformation, sustainable infrastructure, and social finance mechanisms like zakat and waqf in expanding the scope of Islamic finance. Innovative instruments like green sukuk, he added, show how the industry can support both environmental and social goals.
Also read: Is Singapore Betting Big on India’s Rise? PM Wong’s Visit Sparks Global Buzz
Malaysia, under Anwar’s leadership, has remained a global pioneer in Islamic finance. The country placed first in the 2024 Islamic Finance Development Indicator (IFDI), surpassing regional powerhouses in the Gulf, due to robust regulatory control and ongoing government backing. The Prime Minister declared that the 13th Malaysia Plan (13MP) will include new measures to boost Malaysia’s position as an Islamic financial hub, such as cross-border collaboration, digital innovation, and talent development. Also present at the event were Anwar’s wife, Datuk Seri Dr Wan Azizah Wan Ismail, and the Minister in the Prime Minister’s Department for Religious Affairs, Datuk Dr Mohd Na’im Mokhtar.
Reflecting on Malaysia’s early efforts to establish Islamic finance in the 1980s, Anwar recalled the criticism and mockery it once faced. “People laughed at the idea, calling it a return to the ‘age of camels,’” he said. “But we proved that Islamic finance could not only compete but also offer a more ethical, inclusive, and sustainable path forward for Muslims and non-Muslims alike.” Anwar ended his speech with a call to preserve the spirit and values of Islamic finance. “Let us keep this industry rooted in justice and compassion and ensure it remains a source of hope and dignity for all,” he said. This year’s GIFA ceremony recognized nearly 80 awardees from across the world, including Ethiopia’s Prime Minister Abiy Ahmed, in honor of his contributions to inclusive development and peacebuilding.
