KUALA LUMPUR: The Securities Commission Malaysia (SC) has appointed a new seven-member Shariah Advisory Council (SAC) for a three-year term from July 1, 2026, to June 30, 2029.
The council comprises one new appointee and six reappointed members, who will oversee shariah matters in Malaysia’s Islamic capital market.
The new appointee is Senator Datuk Dr Mohd Na'im Mokhtar, while the six reappointed members are Honorary Professor at the IIUM Institute of Islamic Banking and Finance (IIiBF), International Islamic University Malaysia, Professor Dr Engku Rabiah Adawiah Engku Ali; and shariah consultant (Islamic finance) Datuk Dr Ashraf Md Hashim.
The reappointed members also include Mufti of Pahang Prof Datuk Dr Asmadi Mohamed Naim; Mufti of Selangor Datuk Dr Anhar Opir; Deputy President of Research at the ISRA Institute, INCEIF University, Dr Marjan Muhammad; and former researcher at the International Shariah Research Academy for Islamic Finance (ISRA), Burhanuddin Lukman.
SC chairman Datuk Mohammad Faiz Azmi said the SAC plays a key role in ensuring Malaysia’s Islamic capital market remains responsive to evolving market developments while upholding Shariah principles anchored on Maqasid al-Shariah.
"The SAC’s guidance continues to support innovation, sustainability and the long-term growth of the ICM ecosystem,” he said in a statement today.
Mohammad Faiz said the new composition of the SAC, with the collective expertise and experience of its members, is well-positioned to provide robust and forward-looking guidance on shariah matters.
"With the Islamic leadership guided by Maqasid al-Shariah as a key differentiator, the SAC will drive the growth and global leadership of Malaysia’s ICM,” he said.
Mohammad Faiz also expressed appreciation to the outgoing SAC members for their dedicated service and valuable contributions to Malaysia’s ICM.
"Their insights and leadership have contributed towards advancing Malaysia’s ICM to greater heights,” he said.
Established on May 16, 1996, under the Securities Commission Malaysia Act 1993, the SAC is the authority responsible for determining the application of shariah principles to ICM businesses and transactions. - Bernama
