Hanoi:The Sub-Committee on Non-Profit Organisations (SCONPO) is intensifying inter-agency collaboration to bolster governance and safeguard Malaysia's non-profit organisation sector against risks associated with terrorist financing.
According to BERNAMA News Agency, SCONPO chairman Syahrul Imran Mahadzir emphasized the necessity of enhanced cooperation among regulatory bodies, improved information sharing, and proportionate safeguards. These measures are vital to ensure that non-profit organisations (NPOs) can continue their social and charitable activities without exposure to financial crimes and misuse.
Syahrul, who also serves as the deputy director-general of the Labuan Financial Services Authority (Labuan FSA), stated that the committee aims to create a resilient NPO ecosystem. This goal is pursued through stronger partnerships and heightened awareness of emerging terrorist financing threats.
The ongoing efforts of SCONPO build on Malaysia's progress recognized in the 2025 Financial Action Task Force (FATF) Mutual Evaluation. This evaluation acknowledged SCONPO as the principal platform for NPO regulators to discuss sectoral issues and exchange information.
SCONPO recently organized the National Symposium on Non-Profit Organisations 2026 on September 30, gathering over 200 participants, including NPO representatives, regulators, and key stakeholders. The symposium was a collaborative effort by Labuan FSA, the Registrar of Societies Malaysia, the Companies Commission of Malaysia, and the Legal Affairs Division of the Prime Minister's Department. It was officiated by Deputy Finance Minister Liew Chin Tong.
The symposium, themed 'Building a Resilient NPO Ecosystem Understanding Terrorist Financing Threats and Governance of Regulatory Responsibilities,' provided a platform for dialogue and knowledge sharing to strengthen governance and manage terrorist financing risks.
Deputy Finance Minister Liew, in his keynote address, highlighted the significant role of NPOs as the country's 'third sector,' alongside public and private sectors, in supporting national development and addressing community needs, particularly in healthcare and education.
Throughout the year, SCONPO has conducted various engagements, including working group meetings and a dedicated workshop with Bank Negara Malaysia as an observer. These activities have strengthened coordination among regulatory authorities, aligning policy implementation and responding to emerging sector risks.
Labuan FSA, leading SCONPO, continues to work closely with member agencies and stakeholders to enhance regulatory cooperation and ensure that charitable resources reach their intended beneficiaries without being misappropriated.