KUALA LUMPUR, Jan 17 — The initial draft amendments to the Majlis Amanah Rakyat (MARA) Act 1966, aimed at ensuring the agency remains relevant and is managed with good governance, have been completed, said MARA chairman Datuk Dr Asyraf Wajdi Dusuki.

He said the draft would be submitted to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the Minister of Rural and Regional Development, for fine-tuning.

“We recognise the need to amend the MARA Act as it no longer fully reflects MARA’s current role and development.

“Therefore, we believe the Act requires a new lease of life, with governance and management principles firmly embedded within it,” he told reporters here today.

On Nov 11 last year, Ahmad Zahid announced that the MARA Act would be amended to ensure that the management of MARA’s assets, valued at more than RM23 billion, could be carried out more efficiently and effectively. — Bernama