Labuan:The Sub-Committee on Non-Profit Organisations (SCONPO) is intensifying inter-agency cooperation to bolster governance and protect Malaysia's non-profit organisation (NPO) sector from the risks of terrorist financing.
According to BERNAMA News Agency, SCONPO chairman Syahrul Imran Mahadzir emphasized the importance of collaboration among regulatory authorities, improved information sharing, and appropriate safeguards to ensure that NPOs can continue their social and charitable missions without being compromised by financial crimes.
Syahrul, who also serves as the Labuan Financial Services Authority (Labuan FSA) deputy director-general, reiterated the committee's commitment to creating a resilient NPO ecosystem through stronger partnerships and increased awareness of emerging threats. He noted that Malaysia's progress in this area was acknowledged in the 2025 Financial Action Task Force (FATF) Mutual Evaluation, which recognized SCONPO as a key platform for NPO regulators to discuss issues and exchange information.
Currently chaired by Labuan FSA, SCONPO operates under the National Coordination Committee to Counter Money Laundering (NCC), bringing together various regulatory authorities nationwide. As part of its ongoing efforts, SCONPO organized the National Symposium on Non-Profit Organisations 2026 on September 30. The event, attended by over 200 participants including NPO representatives, regulators, and stakeholders, was jointly organized by Labuan FSA, the Registrar of Societies Malaysia, the Companies Commission of Malaysia, and the Legal Affairs Division of the Prime Minister's Department.
Deputy Finance Minister Liew Chin Tong officiated the symposium, which was themed 'Building a Resilient NPO Ecosystem Understanding Terrorist Financing Threats and Governance of Regulatory Responsibilities.' The symposium served as a platform for dialogue and knowledge sharing, focusing on strengthening governance and managing terrorist financing risks.
Liew, in his keynote address, highlighted the crucial role of NPOs as the country's 'third sector,' supporting national development and addressing community needs, especially in healthcare and education. Syahrul added that SCONPO had conducted numerous engagements throughout the year, including meetings and workshops with Bank Negara Malaysia as an observer, to enhance coordination and address emerging risks in the sector.
The initiatives aim to maintain a balanced regulatory environment that protects the integrity of the NPO sector while ensuring resources reach their intended beneficiaries without being misused.