JOHOR BAHRU: The new amendment to the MARA Act 1966 will be tabled in Parliament this year after the Cabinet approved the policy paper relating to the amendment.
MARA chairman Datuk Asyraf Wajdi Dusuki said he had been asked by Deputy Prime Minister and Minister of Rural and Regional Development (KKDW) Datuk Seri Ahmad Zahid Hamidi to ensure that the amendment process could be completed according to schedule to enable it to be tabled this year.
“This stage is the policy stage and we will give the draft to all stakeholders, especially other ministries, to be evaluated and also refined to obtain feedback from them, before we bring it again to the Cabinet Meeting for the purpose of obtaining approval to be tabled in Parliament,” he said.
He said this to reporters after the Haul Asmaulhusna 2026 Commemorative Dhikr Ceremony at the Sultan Iskandar Mosque, Bandar Dato Onn, here today.
Also present were Ahmad Zahid and Johor BN Chairman Datuk Onn Hafiz Ghazi.
He said this when asked about the latest developments regarding the amendment to the MARA Act 1966.
So far, the approval given by the Cabinet is at the policy level, while the draft amendments will be distributed to ministries and stakeholders to be refined and receive feedback before being brought back to the Cabinet meeting for final approval.
This step is important to ensure that the new MARA Act is more relevant and able to strengthen the role of the agency in the Bumiputera development agenda.
Previously, Asyraf Wajdi was reported to have said that the Policy Paper for the formulation of the new Majlis Amanah Rakyat (MARA) Act 2026 had been approved by the Cabinet.
The new act will replace the MARA Act 1966, with approximately 80 percent of the changes in the draft proposal focused on aspects of governance and compliance based on international standards and good corporate governance practices.
— BERNAMA