(Delivered by Deputy Governor Marzunisham Omar 
on behalf of Governor)

It is a pleasure to welcome all of you as we celebrate the 30th anniversary of FAST or the Fully Automated System for Issuing and Tendering.

Thirty years ago, Malaysia's capital market was at a very different stage of development. As our financial system grew in scale and sophistication, we recognised the need for stronger infrastructure to support that growth. That was when FAST was introduced.

At the time, the objective was simple but ambitious: to modernise the issuance and tendering of debt securities and money market instruments. What was once a manual and paper-based process, became electronic, more efficient, more transparent, and more reliable.

Looking back, it is clear that FAST became much more than a technology platform. It became part of the foundation upon which Malaysia's modern bond and sukuk market was built.

Ladies and gentlemen, 
Financial market infrastructure is often unseen. Most people do not see the systems. It is these ‘invisible’ systems that process transactions, facilitate issuance, and connect market participants. While ‘invisible’, every successful financial market depends on them.

Strong infrastructure supports efficient markets. Efficient markets support productive investment. And productive investment supports economic growth. When capital can move efficiently from savers to investors, businesses can expand, infrastructure can be built, and new economic opportunities can be created.

This is why strong financial market infrastructure matters. It creates the conditions for markets to scale, innovate and remain resilient. Over the past thirty years, FAST has helped Malaysia achieve all three.

First, FAST enabled markets to scale. With FAST as a key enabling infrastructure, the Malaysian bond and sukuk market has grown into one of the largest and most developed local currency bond markets in the region, reaching approximately RM2.35 trillion as of end June 2026. 

This growth expanded financing options for businesses and institutions. Corporates can now access long-term funding through the capital market. This means that investments can be financed, expansion plans can be supported and jobs can be created. Between January 2025 and June 2026, more than RM377 billion was raised through the corporate bond market.

Second, FAST enabled markets to innovate. Over the years, Malaysia established itself as a global leader in sukuk and sustainable finance. In 2025, sukuk accounted for more than 60% of our bond and sukuk market. Outstanding sukuk stands at more than RM1.4 trillion. This highlights the depths and maturity of the ecosystem built over time.

Malaysia also pioneered new forms of sustainable financing. We were the first to issue Sustainable and Responsible Investment (SRI) sukuk in 2015, and the first to issue Green Sukuk in 2017. These achievements were made possible not only by strong demand and regulatory frameworks, but also by infrastructure that evolved alongside the market itself. 

Third, FAST enabled markets to remain resilience. Across periods of financial stress, economic uncertainty, and even a global pandemic, Malaysia’s bond and money markets continued to function effectively. This resilience did not happen by chance. It was built over many years through sound policies, strong institutions, and robust market infrastructures. FAST has always been an important part of that foundation.

Ladies and gentlemen,
As we celebrate the achievements of the past 30 years, we must also recognise that the future will look vastly different. Technology, especially artificial intelligence, is reshaping finance. Investor expectations are evolving. Market structures are becoming more interconnected.

The market we build over the last 30 years is not the market that we will need over the next thirty years. And if the market is evolving, then the infrastructure that supports it must evolve as well. 

This is why Bank Negara Malaysia has embarked on a multi-year effort to modernise FAST through the development of FAST+. At its core, FAST+ is about ensuring that our market infrastructure remains relevant, resilient, and future-ready. As future-proofing is not simply about technology, we envisage three outcomes:

We want a market that is more intelligent. Future market infrastructures should do more than process transactions. They should help market participants make better decisions. Through advanced analytics and artificial intelligence, we want FAST+ to deliver richer insights, stronger analytics, greater transparency, and more effective risk monitoring.

We want a market that is more connected. The financial ecosystem will require seamless interaction among issuers, investors, intermediaries, market infrastructures, and regulators. Through greater connectivity and interoperability, we want FAST+ to reduce friction, improve efficiency, and support a more seamless market experience.

We want a market that is more innovative. As the industry explores innovative technologies and new forms of financing, including tokenised securities, programmable instruments and new digital market structures, our market infrastructure must remain credible. We want FAST+ to support innovation while continuing to uphold safety, efficiency, and trust. 

Together with the next-generation Scripless Securities Depository System (SSDS+), FAST+ will provide the foundations for the next phase of capital market development in Malaysia. I am happy to share today that Bank Negara Malaysia will soft launch SSDS+ on 25 September 2026.

Together, FAST+ and SSDS+ will provide the infrastructure to facilitate the issuance, settlement, and safekeeping of tokenised bonds and suskuk, thus enabling issuers and investors to explore new forms of fundraising, investment, and asset servicing. 

Ladies and gentlemen,
Thirty years ago, FAST helped build the market Malaysia has today. The challenge before us is to ensure that FAST+ helps build the market Malaysia needs tomorrow.

A market that is larger. A market that is more connected. A market that is more innovative. And above all, a market that serves the needs of the Malaysian economy.

None of this can be achieved by infrastructure alone. It requires continued partnership, collaboration, and commitment from all of us.

Tonight, as we celebrate this milestone, I would like to express my sincere appreciation to all market participants and stakeholders who have contributed to FAST's success over the past three decades.

Thank you for your trust. Thank you for your partnership. And thank you for helping build one of the most vibrant bond and sukuk markets in the region. Together, let us build the next chapter.

Thank you.