The International Credit & Banking Conference 2024 took place on 5 and 6 June 2024 in Kuala Lumpur Sentral, Malaysia. Organized by the ICA-AP Committee on Credit and Banking and the ASEAN Cooperative Organization (ACO), and hosted by the Malaysian National Cooperative Movement (ANGKASA), the conference gathered 50 delegates from Singapore, Indonesia, the Philippines, Brunei, India, Nepal, Malaysia, Timor Leste, and Korea. The conference featured two primary forums: one addressed the shift from conventional to Shariah-based finance and the other explored Indonesia’s cooperative digital transformation efforts for sustainability. Additionally, ANGKASA shared its successful Salary Deduction and Credit System, enhancing financial stability for Malaysian cooperatives.

The event commenced with an insightful keynote by Mr. Khairil Anuar Mohammad Anuar, CEO of Co-opbank Pertama (Malaysia), who discussed the transition from conventional to Shariah-based finance. Mr. Anuar highlighted the principles of Islamic banking, emphasizing Shariah compliance, asset-based transactions, and robust governance structures. Key takeaways included the importance of ethical governance, asset cleansing, and promoting a culture of ongoing compliance.

The first forum focused on empowering cooperative businesses by leveraging digital solutions for financial inclusion and growth. Moderated by the Director of MYANGKASA Digital Services & MYISCO, Malaysia, Mr. Muhammad Hudhaifa Ahmad, the session featured Mr. Heejun Yoon from the Korean Federation of Community Credit Cooperatives (KFCC), Korea and Mr. Paladi Mohanaiah from National Bank for Agriculture and Rural Development (NABARD) India as panellists, who discussed digital empowerment, financial inclusion, and cooperative sector contributions. The second forum explored building resilient economies through digital transformation for cooperative business, moderated by Mr. Raul Montemayor from the Philippines Cooperative Center (PCC), Philippines with panelists Dr. Agung Sudjatmoko DEKOPIN, Indonesia and Mr. Ahmad Shakir Ahmad Ubaidah KOPETRO, Malaysia discussing Indonesia’s cooperative landscape, digital competency, and supportive government policies.

ANGKASA presented its innovative Salary Deduction and Credit System, highlighting its role in promoting financial transparency, responsible borrowing, and cooperative growth. The conference provided a platform for collaborative dialogue and strategic insights into advancing cooperative banking and finance, aiming to strengthen operational resilience, promote member satisfaction, and drive economic growth across ASEAN and Asia-Pacific cooperative sectors.

A visit to Bank Rakyat was conducted with 27 participants who learned about cooperative banking activities in Malaysia facilitated by Mr. Mohamad Hafiz Omar, followed by a library tour. Some participants also explored key attractions in Kuala Lumpur, including the Bank Negara Malaysia Museum and Art Gallery, the Petronas Twin Towers (KLCC), Independence Square, and Central Market. They gained insights into the nation’s financial history, viewed historical landmarks, and enjoyed local arts and crafts. The combined experience of the conference and the visit enriched the delegates’ understanding of cooperative banking and the cultural context of Malaysia, fostering a deeper appreciation for the region’s financial and historical heritage.