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KUALA LUMPUR, JUNE 25 -- The government, in collaboration with the Securities Commission Malaysia (SC), remains committed to developing a comprehensive Islamic finance ecosystem to attract investors, especially from Russia, to invest in the Islamic finance sector in Malaysia. The Ministry of Finance said the SC has spearheaded several cross-border strategic initiatives, including a planned exploratory visit to the Central Asian region in 2026 or 2027 under the internationalisation agenda of the Islamic capital market (PMI). It aims to assess market readiness, strengthen stakeholder networks and develop an Islamic finance ecosystem that connects Malaysia with the region, including Russia. According to the ministry, Malaysia also has the opportunity to expand the export of sharia expertise following the interest shown by the Head of the Republic of Tatarstan in May 2025 to adopt Malaysia's Islamic finance development model. "This opportunity includes the provision of professional services such as sharia advisory services, consulting, training and capacity building. "The effort was supported through a series of bilateral meetings held by the SC with the Central Bank of Russia and The Saint Petersburg International Mercantile Exchange (SPIMEX) in 2023 and 2025," he said in a written reply on the Dewan Rakyat website, on Wednesday. The ministry was responding to a question from Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) regarding the government's concrete steps to encourage investors from Russia to invest in the Islamic finance sector in Malaysia in an effort to strengthen Malaysia's position as a global Islamic finance hub and attract foreign capital flows based on sharia principles. In addition, the Ministry of Finance announced that the SC will continue to strengthen Malaysia's competitiveness through strengthening the regulatory framework, product innovation and expanding international cooperation, under the Capital Markets Master Plan 2026–2030 (CMP 2026–2030). He said the government always welcomes legitimate and productive investments from Russia, subject to domestic laws and relevant international standards. "Overall, Malaysia's proactive approach not only aims to attract foreign capital flows, but also acts as a bridge connecting Russian investors with global markets in a sustainable, transparent and inclusive financial ecosystem in line with the principles of Maqasid al-Syariah," he said. -- BERNAMA

Government committed to strengthening Islamic finance ecosystem, attracting Russian investors to Malaysia

KUALA LUMPUR, JUNE 25 — The government, in collaboration with the Securities Commission Malaysia (SC), remains committed to developing a comprehensive Islamic finance ecosystem to attract investors, especially from Russia, to invest in the Islamic finance sector in Malaysia.

The Ministry of Finance said the SC has spearheaded several cross-border strategic initiatives, including a planned exploratory visit to the Central Asian region in 2026 or 2027 under the internationalisation agenda of the Islamic capital market (PMI).

It aims to assess market readiness, strengthen stakeholder networks and develop an Islamic finance ecosystem that connects Malaysia with the region, including Russia.

According to the ministry, Malaysia also has the opportunity to expand the export of sharia expertise following the interest shown by the Head of the Republic of Tatarstan in May 2025 to adopt Malaysia’s Islamic finance development model.

“This opportunity includes the provision of professional services such as sharia advisory services, consulting, training and capacity building.

“The effort was supported through a series of bilateral meetings held by the SC with the Central Bank of Russia and The Saint Petersburg International Mercantile Exchange (SPIMEX) in 2023 and 2025,” he said in a written reply on the Dewan Rakyat website, on Wednesday.

The ministry was responding to a question from Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) regarding the government’s concrete steps to encourage investors from Russia to invest in the Islamic finance sector in Malaysia in an effort to strengthen Malaysia’s position as a global Islamic finance hub and attract foreign capital flows based on sharia principles.

In addition, the Ministry of Finance announced that the SC will continue to strengthen Malaysia’s competitiveness through strengthening the regulatory framework, product innovation and expanding international cooperation, under the Capital Markets Master Plan 2026–2030 (CMP 2026–2030).

He said the government always welcomes legitimate and productive investments from Russia, subject to domestic laws and relevant international standards.

“Overall, Malaysia’s proactive approach not only aims to attract foreign capital flows, but also acts as a bridge connecting Russian investors with global markets in a sustainable, transparent and inclusive financial ecosystem in line with the principles of Maqasid al-Syariah,” he said.

— BERNAMA

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JOHOR BAHRU, June 25 -- UMNO's Supreme Council member Datuk Dr Mohd Puad Zarkashi announced his departure from the party with immediate effect today. In a statement posted on Facebook today, the incumbent for Rengit state assembly seat said the decision was made without any coercion and would allow him to voice his views freely. "Without any hesitation, I announce my departure from UMNO with immediate effect from today, June 25, 2026. Therefore, UMNO need not go through the trouble of expelling me. "It will also make it easier for me to hold differing views without being accused of stabbing the party in the back. I am now free to criticise UMNO, a platform that I love and respect for the Malays and Malaysians," he said. Mohd Puad said there were many other examples which, in his view, showed that Onn Hafiz was merely a "pak turut" (yes-man), effectively reducing Johor UMNO to a "tethered puppet". He said his decision to leave the party was an act of "political courage" aimed at exposing what he described as wrongdoing before it became more serious. Mohd Puad, who is also a former Johor State Legislative Assembly Speaker, dismissed suggestions that his decision was driven by personal interests. Yesterday, the former Batu Pahat Member of Parliament hinted that he would make an important announcement after claiming there were irregularities in the selection of Barisan Nasional (BN) candidates for the Johor state election. He had earlier confirmed that he would not defend the Rengit state seat in the upcoming election despite winning it in the 2022 Johor state election and had proposed that younger candidates be given the opportunity to contest. In the 12th General Election, Mohd Puad won the Batu Pahat parliamentary seat after defeating PAS candidate Muhammad Abdullah with a majority of 12,968 votes. The former Batu Pahat UMNO division chief contested the seat again in the 13th General Election but lost to PKR candidate Datuk Mohd Idris Jusi by a majority of 1,524 votes. Mohd Puad also held several positions in the federal administration, including Deputy Education Minister from 2009 to 2013 and Director-General of the Special Affairs Department (JASA) from March 2015 to April 2018. -- BERNAMA

“Onn Hafiz A Yes-man, Johor UMNO A Tethered Puppet,” Claims Puad Zarkashi After Quitting UMNO

VANCOUVER, CANADA: Ruben Vargas and Johan Manzambi scored to give Switzerland a 2-1 win over Canada in FIFA World Cup Group B on Wednesday as both teams advanced to the knockout stages, Xinhua reported. Manzambi, 20, who came off the bench to score twice in Switzerland's 4-1 win over Bosnia and Herzegovina on Thursday, dominated the early game against Canada. Assisted by Manzambi, Vargas broke the deadlock early in the second half, when his shot went past the Canadian goalkeeper, hit the post and went over the line. In the 57th minute, Breel Embolo crossed for Manzambi, who finished to make it 2-0. Swiss defender Manuel Akanji praised Manzambi after the match. "We need a player like this who is creative, he sees things that maybe others don't see or can't do." Canada scored again in the 76th minute when Jonathan David scored with his first touch shortly after coming on as a substitute. "We didn't get at least a draw, which means we have to get out of here (Canada) for the next game," said David. "We were a bit disappointed about that. But we scored a lot of goals in all three games, I think we showed a new level of attacking football." Also in Group B, Qatar finished bottom and were eliminated after losing 3-1 to Bosnia and Herzegovina, who are third with four points and still have hopes of reaching the knockout stages. Switzerland will play one of the best third-place teams from Groups E, F, G, I or J in Vancouver in the round of 32. Canada, who need a win or a draw to top the group and remain in action at home, now have to travel to Los Angeles for their next match against the Group A runners-up. -- BERNAMA-XINHUA

2026 World Cup: Switzerland, Canada advance to knockout rounds

ISTANBUL,JUNE 25 -- About 20 million barrels of crude oil have left the Strait of Hormuz in the last 24 hours on 72 ships, US Energy Secretary Chris Wright said on Wednesday, Anadolu Agency reported . Washington will ensure oil flows through the key waterway even without a deal with Iran, Wright told the Reuters Global Energy Forum in New York. "We have normal flow today," Wright said, adding that the amount was similar to recent flow levels following the initial US-Iran deal to end the conflict. "Iran will not have the ability to close the Strait of Hormuz in the future. That is the important thing, that is their main advantage, and we are taking that leverage away from them," he said, adding that the Iranian military is gone. He said many ships exiting the strait avoid the main shipping lanes due to mine-related risks and instead sail near the Iranian coast or along the southern route near Oman with military escorts. The number of ships remains lower than usual, but most are larger vessels, helping to keep crude oil flows close to pre-war levels, he added. A full return to normal navigation will still take several weeks, Wright said, noting that mine clearance efforts are needed in the strait. Tanker movements across the strategic waterway have shown signs of recovery following the interim US-Iran peace deal, easing concerns about possible supply disruptions from the Persian Gulf. The Strait of Hormuz is one of the world's most important oil routes, with crude oil and liquefied natural gas exports from Gulf producers passing through the narrow waterway. Latest maritime data shows commercial and energy-related ship traffic through the strait remains active, while more tankers are entering the Persian Gulf to pick up cargo as exporters seek to restore flows. Oil prices fell this week as traffic in the strait improved, reducing the geopolitical risk premium that had pushed crude prices higher during the conflict. -- BERNAMA-ANADOLU

20 million barrels of crude oil passed through the Strait of Hormuz in 24 hours – US Energy Information Administration

KUALA LUMPUR, JUNE 25 -- A strong earthquake measuring 6.9 struck an area near the east coast of Honshu, Japan at 6.30 this morning, according to the Malaysian Meteorological Department (MetMalaysia). MetMalaysia in a statement said the earthquake occurred at coordinates 40.2 degrees North and 142.2 degrees East, approximately 64 kilometres southeast of Hachinohe, Japan. According to the department, the earthquake occurred at a depth of 79 kilometers. Based on MetMalaysia's initial assessment, the earthquake did not pose a tsunami threat to Malaysia. -- BERNAMA

Magnitude 6.0 earthquake off east coast of Honshu, no tsunami threat to Malaysia

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JOHOR BAHRU, June 25 -- UMNO's Supreme Council member Datuk Dr Mohd Puad Zarkashi announced his departure from the party with immediate effect today. In a statement posted on Facebook today, the incumbent for Rengit state assembly seat said the decision was made without any coercion and would allow him to voice his views freely. "Without any hesitation, I announce my departure from UMNO with immediate effect from today, June 25, 2026. Therefore, UMNO need not go through the trouble of expelling me. "It will also make it easier for me to hold differing views without being accused of stabbing the party in the back. I am now free to criticise UMNO, a platform that I love and respect for the Malays and Malaysians," he said. Mohd Puad said there were many other examples which, in his view, showed that Onn Hafiz was merely a "pak turut" (yes-man), effectively reducing Johor UMNO to a "tethered puppet". He said his decision to leave the party was an act of "political courage" aimed at exposing what he described as wrongdoing before it became more serious. Mohd Puad, who is also a former Johor State Legislative Assembly Speaker, dismissed suggestions that his decision was driven by personal interests. Yesterday, the former Batu Pahat Member of Parliament hinted that he would make an important announcement after claiming there were irregularities in the selection of Barisan Nasional (BN) candidates for the Johor state election. He had earlier confirmed that he would not defend the Rengit state seat in the upcoming election despite winning it in the 2022 Johor state election and had proposed that younger candidates be given the opportunity to contest. In the 12th General Election, Mohd Puad won the Batu Pahat parliamentary seat after defeating PAS candidate Muhammad Abdullah with a majority of 12,968 votes. The former Batu Pahat UMNO division chief contested the seat again in the 13th General Election but lost to PKR candidate Datuk Mohd Idris Jusi by a majority of 1,524 votes. Mohd Puad also held several positions in the federal administration, including Deputy Education Minister from 2009 to 2013 and Director-General of the Special Affairs Department (JASA) from March 2015 to April 2018. -- BERNAMA

“Onn Hafiz A Yes-man, Johor UMNO A Tethered Puppet,” Claims Puad Zarkashi After Quitting UMNO

VANCOUVER, CANADA: Ruben Vargas and Johan Manzambi scored to give Switzerland a 2-1 win over Canada in FIFA World Cup Group B on Wednesday as both teams advanced to the knockout stages, Xinhua reported. Manzambi, 20, who came off the bench to score twice in Switzerland's 4-1 win over Bosnia and Herzegovina on Thursday, dominated the early game against Canada. Assisted by Manzambi, Vargas broke the deadlock early in the second half, when his shot went past the Canadian goalkeeper, hit the post and went over the line. In the 57th minute, Breel Embolo crossed for Manzambi, who finished to make it 2-0. Swiss defender Manuel Akanji praised Manzambi after the match. "We need a player like this who is creative, he sees things that maybe others don't see or can't do." Canada scored again in the 76th minute when Jonathan David scored with his first touch shortly after coming on as a substitute. "We didn't get at least a draw, which means we have to get out of here (Canada) for the next game," said David. "We were a bit disappointed about that. But we scored a lot of goals in all three games, I think we showed a new level of attacking football." Also in Group B, Qatar finished bottom and were eliminated after losing 3-1 to Bosnia and Herzegovina, who are third with four points and still have hopes of reaching the knockout stages. Switzerland will play one of the best third-place teams from Groups E, F, G, I or J in Vancouver in the round of 32. Canada, who need a win or a draw to top the group and remain in action at home, now have to travel to Los Angeles for their next match against the Group A runners-up. -- BERNAMA-XINHUA

2026 World Cup: Switzerland, Canada advance to knockout rounds

ISTANBUL,JUNE 25 -- About 20 million barrels of crude oil have left the Strait of Hormuz in the last 24 hours on 72 ships, US Energy Secretary Chris Wright said on Wednesday, Anadolu Agency reported . Washington will ensure oil flows through the key waterway even without a deal with Iran, Wright told the Reuters Global Energy Forum in New York. "We have normal flow today," Wright said, adding that the amount was similar to recent flow levels following the initial US-Iran deal to end the conflict. "Iran will not have the ability to close the Strait of Hormuz in the future. That is the important thing, that is their main advantage, and we are taking that leverage away from them," he said, adding that the Iranian military is gone. He said many ships exiting the strait avoid the main shipping lanes due to mine-related risks and instead sail near the Iranian coast or along the southern route near Oman with military escorts. The number of ships remains lower than usual, but most are larger vessels, helping to keep crude oil flows close to pre-war levels, he added. A full return to normal navigation will still take several weeks, Wright said, noting that mine clearance efforts are needed in the strait. Tanker movements across the strategic waterway have shown signs of recovery following the interim US-Iran peace deal, easing concerns about possible supply disruptions from the Persian Gulf. The Strait of Hormuz is one of the world's most important oil routes, with crude oil and liquefied natural gas exports from Gulf producers passing through the narrow waterway. Latest maritime data shows commercial and energy-related ship traffic through the strait remains active, while more tankers are entering the Persian Gulf to pick up cargo as exporters seek to restore flows. Oil prices fell this week as traffic in the strait improved, reducing the geopolitical risk premium that had pushed crude prices higher during the conflict. -- BERNAMA-ANADOLU

20 million barrels of crude oil passed through the Strait of Hormuz in 24 hours – US Energy Information Administration

KUALA LUMPUR, JUNE 25 -- A strong earthquake measuring 6.9 struck an area near the east coast of Honshu, Japan at 6.30 this morning, according to the Malaysian Meteorological Department (MetMalaysia). MetMalaysia in a statement said the earthquake occurred at coordinates 40.2 degrees North and 142.2 degrees East, approximately 64 kilometres southeast of Hachinohe, Japan. According to the department, the earthquake occurred at a depth of 79 kilometers. Based on MetMalaysia's initial assessment, the earthquake did not pose a tsunami threat to Malaysia. -- BERNAMA

Magnitude 6.0 earthquake off east coast of Honshu, no tsunami threat to Malaysia

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