Kuala lumpur: Amendments to the Majlis Amanah Rakyat (MARA) Act 1966 are anticipated to be presented in Parliament as early as June, aiming to ensure the agency's continued relevance and proper governance. MARA Chairman Datuk Dr Asyraf Wajdi Dusuki announced that the draft amendment is complete and currently undergoing an engagement phase with various ministries and agencies, including the Finance Ministry, Economy Ministry, the Prime Minister's Department, and the Legal Affairs Division, to gather comprehensive feedback.

According to BERNAMA News Agency, the amendments focus on modernizing the management framework, reinforcing the organization's strategic functions, and realigning MARA's mandate with current developments and future challenges. Dr. Asyraf emphasized the importance of enhancing transparency and accountability within the institution, noting that the need to amend the act has become more urgent after more than sixty years. He pointed out potential conflicts of interest, stating that while there are no legal restrictions for individuals to sit on multiple committees, such scenarios could lead to governance issues.

Dr. Asyraf also mentioned the involvement of Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is actively participating in the internal engagement process, as the Act falls under the Rural and Regional Development Ministry's jurisdiction. Additionally, the proposed establishment of a Syariah Advisory Committee is highlighted as a key component of the amendment, ensuring that MARA's operations comply with syariah principles, particularly in managing public funds involving Bumiputera.