Kuala lumpur: The Sultan of Perak, Sultan Nazrin Muizzuddin Shah, has called on Islamic finance institutions to balance profit generation with moral integrity and social responsibility, reminding industry leaders that true progress lies not only in wealth creation but in uplifting communities.
According to BERNAMA News Agency, Sultan Nazrin emphasized that profit must be pursued with purpose, guided by conscience, and rooted in values that serve the greater good. He highlighted that Islamic finance, founded on principles such as fairness, transparency, accountability, and risk-sharing, must remain dynamic, inclusive, and forward-looking amidst geopolitical, social, and environmental transformations.
His Royal Highness stated that leadership in the industry should be anchored in courage, wisdom, and moral clarity, and stressed the importance of pursuing profit with responsibility and growth with justice. Sultan Nazrin delivered these remarks during his Royal Lecture at the Global Islamic Finance Forum (GIFF) 2025 Royal Dinner. Finance Minister II Datuk Seri Amir Hamzah Azizan and Governor of Bank Negara Malaysia Datuk Seri Abdul Rasheed Ghaffour were also present at the event.
The monarch underscored that the industry's success should be measured by its financial performance and its contribution to people and the planet. Citing the wisdom of Ibn Khaldun, he stated that economic prosperity must always be grounded in moral integrity, with trust and ethical conduct being essential to sustainable commerce.
Sultan Nazrin highlighted the connection between economic activity and social well-being, stressing that the growth of Islamic finance must translate into tangible progress that benefits communities, not just capital owners. He pointed out that Islamic finance is well-positioned to bridge opportunity with need, noting that Islamic banks have channelled significant funds into social and green financing, along with social impact initiatives through zakat, sadaqah, iTEKAD, and waqf.
Regarding the iTEKAD initiative, Sultan Nazrin described it as an exemplary model of how Islamic social finance can empower micro-entrepreneurs and foster socioeconomic resilience. As of June 2025, the initiative had benefitted over 10,000 participants, enabling many to transition from welfare recipients to small business owners, generating income and creating jobs.
Sultan Nazrin also called on policymakers, business leaders, philanthropists, and innovators to engage in cross-border collaborations to advance a principled, inclusive, and impactful global Islamic finance agenda. He emphasized the crucial role of the financial industry in addressing global challenges such as infrastructure, climate resilience, ageing populations, and inclusive innovation.