Amendments to Majlis Amanah Rakyat Act Aim to Strengthen Governance and Bumiputera Agenda
KUALA LUMPUR, May 4 — Proposed amendments to the Majlis Amanah Rakyat (MARA) Act 1966 are being positioned as a strategic effort to strengthen the agency’s legal framework, particularly in ensuring the continuity of Bumiputera development initiatives.
Deputy Prime Minister Ahmad Zahid Hamidi said the amendments are intended to enhance governance and regulatory structures so that MARA’s direction remains consistent regardless of future leadership changes.
He noted that the move is aimed at maintaining policy stability while ensuring that programmes and initiatives are implemented effectively and with integrity.
“We want to ensure MARA continues to play a clear and consistent role in supporting Bumiputera development, without being overly affected by changes in administration,” he said during MARA’s 60th anniversary celebration.
The event was officiated by Prime Minister Anwar Ibrahim and attended by key leaders, including MARA chairman Asyraf Wajdi Dusuki.
Ahmad Zahid said the draft amendments are expected to be finalised and tabled in Parliament by the end of the year as part of broader institutional reforms.
He also highlighted the importance of addressing potential weaknesses in financial management, given MARA’s substantial asset base, which requires strong accountability measures.
In addition, he expressed a long-term vision for MARA to evolve into a more financially independent organisation, capable of generating internal revenue through strategic investments.
Such a direction, he said, would reduce reliance on government funding and enhance the agency’s sustainability.
Meanwhile, Asyraf Wajdi said the review of the MARA Act is now in its final stage, focusing on strengthening governance structures and institutional integrity.
He emphasised that the amendments aim to ensure greater transparency and to prevent issues such as leakages, inefficiencies and misuse of funds.
“Even as leadership changes over time, the governance framework must remain strong and effective,” he said.
He added that the proposed amendments and transformation plans will be presented to the government soon before proceeding to the parliamentary process.
Overall, the initiative is seen as an effort to reinforce MARA’s role in advancing Bumiputera socio-economic development while improving organisational efficiency and accountability.
-wilayah.com.my
