Summary
- About 80% of proposed Mara Bill focuses on corporate governance.
- Board members will face term limits and “fit and proper” requirements.
- Chairman’s powers will be reduced under proposed reforms.
- New Syariah and governance committees will be established.
KUALA LUMPUR, August 27 — The proposed Mara Bill 2026 will introduce term limits for board members and strengthen corporate governance, Mara chairman Datuk Dr Asyraf Wajdi Dusuki said.
Expected to be tabled in Parliament by year-end, about 80% of the Bill focuses on governance reforms. Key measures include separating Board and management powers.
Reducing the chairman’s authority, tightening financial and procurement controls, and introducing “fit and proper” criteria. Mandatory audit, investment, finance, governance and risk committees.
Will also be established alongside Mara’s first Syariah Committee.
