The drafting of the Mara Act 2026 is intended to streamline the management, governance, and financial administration of Majlis Amanah Rakyat (Mara) to match the agency's current scale of operations.

Mara Chairman Datuk Dr. Asyraf Wajdi Dusuki stated that replacing the Mara Act 1966 is necessary to ensure the agency's legal framework aligns with its current operational complexity. Mara currently manages assets totaling RM23 billion and maintains roles in education, entrepreneurship, and investment.

Efforts to improve governance began following Asyraf Wajdi's appointment as Chairman on March 10, 2023. A special task force was established to examine weaknesses and strengthen corporate governance and financial management practices within the agency.

Pasukan khas berkenaan diketuai oleh bekas Gabenor Bank Negara Malaysia, Tan Sri Muhammad Ibrahim, susulan pelbagai maklum balas ketika itu berkaitan isu dan kelemahan tadbir urus Mara sebelum ini.

The special task force is led by former Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim, following feedback regarding previous governance issues and weaknesses at Mara, Asyraf Wajdi said.