KUALA LUMPUR, July 23 — The Securities Commission (SC) has announced a new line-up for its Shariah Advisory Council (SAC) who will serve for a three-year period starting July 1, 2020.
In a statement today, the SC said the Yang di-Pertuan Agong assented to the line-up in accordance with Section 31ZK of the Securities Commission Malaysia Act 1993 (SCA).
The nine members are Amanie Group executive chairman Datuk Mohd Daud Bakar; International Islamic University Malaysia (IIUM) Institute of Islamic Banking and Finance Associate Prof Aznan Hasan; former International Shari’ah Research Academy for Islamic Finance (ISRA) senior researcher Shamsiah Mohamad; and IIUM Institute of Islamic Banking and Finance Prof Engku Rabiah Adawiah Engku Ali.
Other members are ISRA International Consulting Sdn Bhd chief executive officer (CEO) Prof Ashraf Md Hashim; Universiti Utara Malaysia (UUM) College of Business Prof Asmadi Mohamed Naim; and Universiti Islam Malaysia (UIM) School of Law and Shariah Associate Prof Mohamed Fairooz Abdul Khir.
Two new appointees in the line-up are International Centre for Education in Islamic Finance (INCEIF) president and CEO Datuk Mohd Azmi Omar and Elzar Shariah Solutions and Advisory Sdn Bhd CEO Zaharuddin Abdul Rahman.
SC chairman Datuk Syed Zaid Albar said SAC rulings provided greater clarity, consistency and confidence to all stakeholders of the Islamic capital market in Malaysia, which in turn would facilitate the development by practitioners in the marketplace.
“With the expertise and experience of the SAC members, we will be able to further enhance Malaysia’s position as a leader in Islamic capital market,” he said.
The SAC was established in 1996 to ensure the development of the Islamic capital market complied with Shariah principles and is the central authority responsible for determining the application of Shariah principles in the Islamic capital market.
Under the SCA, the SAC is empowered to advise the SC on any matter relating to Islamic capital market business or transaction. — Bernama