KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has launched the Maqasid Al-Shariah Screening Model for Responsible Investment (MSRI), a new investment screening framework that combines the principles of Maqasid al-Shariah with Environmental, Social and Governance (ESG) considerations.
In a statement, PNB said the model will be used in its investment analysis and decision-making for its domestic investment portfolio, expanding Shariah screening beyond financial assessments to encompass business activities.
The MSRI framework evaluates investments based on the five dimensions of Maqasid al-Shariah introduced by Imam al-Ghazali while integrating ESG factors into the assessment process. It also includes controversy and bonus scores to measure companies' negative impacts and positive initiatives.
Chairman Raja Tan Sri Arshad Raja Tun Uda said the initiative was the result of close collaboration between PNB and the Department of Islamic Development Malaysia (JAKIM).
He said the partnership demonstrates how national investment and religious institutions can work together to build a financially sustainable ecosystem grounded in values and ethics.
The launch was held in conjunction with the Wacana Literasi Kewangan Islam Berteraskan Maqasid Al-Syariah in Bangi.
At the same event, ASNB launched its Khultah (collective) method of Zakat al-Mustaghallat payment, providing Muslim investors in ASNB's fixed-price unit trust funds with a more convenient way to fulfil their annual zakat obligations.
Prime Minister's Department (Religious Affairs) Senator Dr Zulkifli Hasan said the facility enables ASNB investors to perform their zakat obligations in a simpler and more systematic manner.
“Muslim investors who invest in ASNB unit trust funds are encouraged to fully utilise this Khultah (collective) method of Zakat al-Mustaghallat payment to fulfil their annual zakat obligations.”
He said the Khultah approach allows investors to continue enjoying competitive net investment returns while ensuring zakat obligations are managed systematically and in accordance with Shariah principles.
The Zakat Khultah facility was introduced on May 25, 2026, following the restructuring of ASNB's fixed-price funds into Class A and Class B units.
Existing unitholders were automatically placed under Class A, while Class B is designated for Muslim investors who opt to have their zakat managed by ASNB through the collective mechanism.
Under Class B, zakat is calculated at 2.57% of dividends before distribution, allowing investors to receive dividends that are net of zakat and Shariah-purified.
The al-Mustaghallat methodology used was approved by the National Council for Islamic Religious Affairs Malaysia (MKI) in September 2025.
As of July 16, 2026, 131,121 Muslim investor accounts had opted for the Class B arrangement.
