Legal

Anwar Sets Three-Month Deadline for Revised Mara Act

The Star
The Star•May 3, 2026

Why It Matters

Accelerating the MARA Act reforms will deepen Bumiputera participation in high‑value industries, strengthening Malaysia’s economic diversification and global competitiveness.

Key Takeaways

  • •MARA’s revised Act will prioritize entrepreneurship and education.
  • •New focus on Bumiputera ownership and control of economic assets.
  • •Targeted talent development for oil, gas, AI, and halal sectors.
  • •MARA to act as umbrella agency for inclusive economic ecosystem.
  • •Draft of new MARA Act required within three months, not seven.

Summary

Prime Minister Anwar Ibrahim announced a three‑month deadline for delivering a revised MARA Act, signalling a decisive push to sharpen the agency’s mandate around entrepreneurship, education, and Bumiputera economic participation. The new legislation will embed three core pillars: fostering entrepreneurial ventures and higher‑skill education, expanding Bumiputera ownership and control of strategic assets, and cultivating talent for emerging sectors such as oil and gas, artificial intelligence, and the halal industry.

The speech highlighted MARA’s role as an umbrella institution that can coordinate ministries, state agencies, and government‑linked companies to create an inclusive ecosystem. Datuk Seri Zahid’s earlier reforms were cited as proof that focused leadership can break monopolies and open new market opportunities, especially in high‑value halal and technology domains. Anwar urged immediate action, stating, “Give me the draft within three months, not seven,” and called on state‑owned enterprises to support Bumiputera firms in entering international markets.

Examples of concrete steps included expanding the UNIKL institute’s AI and accounting programmes, leveraging the PMKS scheme to increase Bumiputera participation beyond the current 10‑15 % ceiling, and using halal certification as a growth engine. The minister also referenced the need for a clear, long‑term strategic plan that can survive political cycles and deliver measurable outcomes for the next 60 years.

If enacted swiftly, the revised Act could accelerate Malaysia’s diversification away from traditional manufacturing, boost Bumiputera representation in high‑growth sectors, and attract foreign investment by showcasing a more predictable, talent‑rich environment. The deadline underscores the government’s urgency to translate policy intent into actionable reforms that reshape the country’s economic landscape.

Original Description

Prime Minister Datuk Seri Anwar Ibrahim has instructed that a draft amendment to the Majlis Amanah Rakyat (Mara) Act 1996 be submitted within three months, signalling urgency in strengthening governance within bumiputra institutions.
Anwar said there was no need for prolonged delays in drafting the law, even as Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi had earlier directed that it be completed by the end of the year.

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