Mara Act Amendments Aim To Safeguard Malay And Bumiputera Rights
KUALA LUMPUR: Majlis Amanah Rakyat (Mara) is planning amendments to strengthen the protection of Malay and bumiputera rights to ensure the institution’s core mandate remains safeguarded regardless of future political or leadership changes in the country.
Mara chairman Asyraf Wajdi Dusuki said one of the key proposals involves placing the Mara Act more explicitly under Article 153 of the Federal Constitution, which relates to the special position and privileges of Malays and bumiputeras.
According to him, the proposal will first be refined before being brought to the ministry level through Deputy Prime Minister Ahmad Zahid Hamidi for Cabinet policy approval, which is expected to be discussed on May 25 before being tabled in Parliament.
He said the move is intended to ensure Mara’s original role in strengthening bumiputera education, socio-economic development and entrepreneurship remains protected from shifting political circumstances.
“Governments may change and leaders may come and go, but institutions like Mara must remain strong and bumiputera rights cannot be compromised,” he said during a public consultation session involving non-governmental organisations on the proposed Mara Bill 2026 today.
At the same time, he stressed that governance reforms would form a major component of the proposed amendments in order to prevent leakages, conflicts of interest and abuse of power that could harm the institution.
According to Asyraf Wajdi, nearly 70 per cent of the proposed amendments to the 1966 Mara Act focus on strengthening governance systems and accountability in policy-making and decision processes.
“This is not a minor amendment exercise, but a comprehensive effort to improve Mara’s management and governance structure,” he said.
He noted that several past issues, including overseas property investments that failed to generate satisfactory returns, highlighted the urgent need for stronger checks and balances within the institution.
According to him, although certain decisions may have complied with existing procedures, weaknesses in governance could still have major implications on the management of Mara’s assets and funds.
As part of the reforms, Mara intends to benchmark its governance standards against institutions such as Bank Negara Malaysia in developing a stricter and more transparent management framework.
He said the approach is crucial to ensure an institution managing large-scale assets like Mara remains protected against risks of power abuse and mismanagement in the future.
The proposed amendments are also viewed as part of broader efforts to strengthen public confidence in Mara’s role as a key institution supporting bumiputera education and economic development in Malaysia.
-wilayah.com.my
