The National Film Development Corporation is the result of a decision made by the National Film Development Committee set up by the Malaysian government on 26 July 1980 to devise ways to develop a film company in Malaysia. The result of the National Film Development Committee's National Film Development Corporation was set up in 1981, and started operation in Jalan Ampang then moved to Studio Merdeka Complex, Hulu Kelang on 19 December 1988, when Tan Sri Abdul Samad Idris was the chairman of Finas. Starting from 27 December 2004, FINAS was later placed under the Ministry of Culture, Arts and Heritage of Malaysia and was the agency of the Ministry of Arts and Heritage Culture Unity beginning in 2008. From April 2008 FINAS was placed under the Ministry of Information Communication and Culture. Finas is involved in the promotion of filming in Malaysia, and with the implementation of the Investors Promotion Act, 1986 also censured local film and video production activities. Finas also established the Film Academy in 1987, aimed at providing short term formal training, certificate and diploma levels to employees interested in film production. In addition, local filmmakers also enjoy the government's financial incentives under the Entertainment Grants Scheme. To encourage filmmaking in Malaysia, Finas also provided assistance in the form of loan facilities and rental of shooting equipment as well as film production facilities, preview halls and studios. The government also assisted local filmmakers by offering 50% off government television advertisements by the Ministry of Information. The government has also enforced the Compulsory Terms from January 1991 in the effort to develop the Malaysian film industry administered by Finas. In July 2020, FINAS is the first agency in the world to impose licensing on all video recording in Malaysia. This includes social media posting. These who want to record said video, need to apply for a license that will cost RM50,000 and need to be applied 7 days prior to recording.
Malaysian Film Festival, is a film award ceremony carried by Entertainment Journalists Association of Malaysia to appreciate and honouring the products of film arts and artists. The formal ceremony at which the awards are presented is one of the most prominent award ceremonies and the highlights for the film industry in Malaysia and is televised live on local television, annually. It is considered to be Malaysia's own equivalent to the Academy Awards in the United States and it is among the major annual awards presented in Malaysia, alongside the Anugerah Bintang Popular for the entire entertainment industry, and Anugerah Industri Muzik for the music industry. Starting with the third inauguration, FFM was no longer being organise by EJA, but instead taken over by Finas after the second organisation of the awards ceremony.
''Skim Wajib Tayang''
The Skim Wajib Tayang is a regulation that conducted by FINAS to authorise a Compulsory Scheme Committee to consider and accept any local film or joint venture film for compulsory viewing on the movie hall by the cinema operators, in accordance with the provisions of the Finas' Order which enforced on 23 June 2005 and has been revamped in 2016.
Merge with Filem Negara
On 28 November 2012, Finas and Filem Negara Malaysia was merged to form a single film corporation. The merging was made to make the corporation would be responsible for the development of the local film industry to avoid wastage of funds and overlapping of provision of infrastructure.
Film in Malaysia Incentive
Film in Malaysia Incentive is an program introduced by Finas in October 2014 as a historic step that will make Malaysia the preferred destination and film production hub.
