Kuala lumpur: The initial draft amendments to the Majlis Amanah Rakyat (MARA) Act 1966, aimed at ensuring the agency remains relevant and is managed with good governance, have been completed, said MARA chairman Datuk Dr Asyraf Wajdi Dusuki. He noted that the draft would be submitted to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the Minister of Rural and Regional Development, for further refinement.

According to BERNAMA News Agency, the need to amend the MARA Act arises from its inability to fully reflect MARA's current role and development. Dr Asyraf emphasized that the Act requires a new lease of life, with governance and management principles firmly embedded within it.

On November 11 last year, Ahmad Zahid announced that the MARA Act would be amended to ensure that the management of MARA's assets, valued at more than RM23 billion, could be carried out more efficiently and effectively.