Kuala lumpur: The Securities Commission Malaysia (SC) has been recognized as the 'Best Regulator in Promoting Islamic Finance' for the third consecutive year at the IFN Awards. Its chairman, Datuk Mohammad Faiz Azmi, stated that this accolade reflects the efforts of the regulator and the contributions of ecosystem partners, particularly the industry's commitment to the growth of Islamic finance. According to BERNAMA News Agency, global Islamic finance assets currently stand close to US$6 trillion and are projected to reach US$9.7 trillion by 2029, indicating a compound annual growth rate of 10 percent. Domestically, Malaysia's Islamic capital market has grown to RM2.7 trillion, accounting for more than 60 percent of the country's capital market size. This growth underscores the viability of a system rooted in justice, equity, and shared prosperity. In his remarks, Mohammad Faiz Azmi also addressed the impact of geopolitical tensions, emphasizing that the repercussions extend beyond the West Asia conflict. T hese tensions have led to disruptions in food security, energy markets, supply chains, and livelihoods. He highlighted that Malaysia, with its rising pump prices, is not immune to these global economic pressures, particularly regarding energy security. With a significant percentage of the world's oil and liquefied natural gas passing through the Strait of Hormuz, any disruption significantly affects import-dependent economies in Asia and Europe. Mohammad Faiz emphasized that Islamic finance, with its focus on real economic activities, social purpose, and shared risk, must rise to these challenges. He further explained that the SC's Islamic Capital Market (ICM) agenda is guided by 'maqasid al-shariah', focusing on justice, protection of the vulnerable, promoting good, and avoiding harm. He stressed that this approach is not merely a compliance framework but a call to purpose. Under the Capital Market Masterplan 2026-2030, Malaysia's ICM aims to transition from product-centric to ethics-driven leadership, es tablishing a global benchmark for transparent and purposeful finance. Mohammad Faiz also noted the need to tackle pressing issues like income inequality, post-retirement security, and the accelerating effects of climate change, while planning for the long-term development of Malaysia's capital market through 2040. He concluded by stating the importance of broadening access to new investor segments, issuers, and capital pools, strengthening the capital market's positioning with foreign listings and regionally-focused exchange-traded funds, and maintaining good governance across both Islamic and conventional segments.