KUALA LUMPUR: The Association of Banks in Malaysia (ABM), which is celebrating its 50th anniversary, has outlined four strategic priorities for the next phase of its journey: social inclusion, digital and technological innovation, sustainable practices, and industry development and resilience.

These priorities align with Malaysia's socio-economic strategies and Asean's sustainable development goals, it said.

"The association aims to position Asean as a frontrunner in sustainable finance while fostering closer collaborations with regulators, industry players, and stakeholders," it said in a statement today.

Last Thursday, ABM hosted the 52nd Asean Banking Council Meeting under the auspices of the Asean Bankers Association, culminating in a gala dinner to celebrate its 50th anniversary.

Speaking during the dinner, ABM chairman Datuk Khairussaleh Ramli said that for five decades, the association has been a pillar of innovation and resilience, adapting to challenges while supporting communities and businesses.

ABM's milestones include spearheading the six-month loan moratorium during the COVID-19 pandemic, which provided relief to over eight million borrowers.

"The association has also championed initiatives to combat financial fraud, supported the digitalisation of banking services, and advanced efforts in financial literacy and inclusion," he said.

During the event, ABM reaffirmed its commitment to strengthening regional collaboration.

This year's meeting, themed "Sustainability: Taking Action Now for Tomorrow", underscored the collective resolve of Asean banking leaders to address shared challenges, including climate change, digital transformation, and financial inclusion.

ABM said the meeting highlighted key initiatives such as cross-border payment systems, green financing frameworks, and shared digital infrastructure, paving the way for a more resilient and sustainable Asean financial community.

Since its establishment, ABM has been at the forefront of Malaysia's financial development, playing a pivotal role in nation-building.

From financing key national infrastructure projects to promoting financial inclusion and sustainability, ABM has helped shape a robust and innovative banking ecosystem, it said.