KUALA LUMPUR: Bank Negara has appointed Sahibus Samahah Ahmad Fauwaz Fadzil as a new member of the Shariah Advisory Council (SAC) for a two-year term, beginning Nov 1, 2026.
The SAC is the highest authority for the ascertainment of Islamic law for
purposes of Islamic financial business in Malaysia.
It is central in promoting Shariah certainty and sustaining public confidence in the Islamic finance
industry. The SAC also advises BNM on Shariah issues relating to Islamic
financial activities or transactions of Bank Negara.
"The rulings of the SAC serve as a
reference for Islamic financial institutions in ensuring their business operations comply with Shariah principles. The rulings also serve as a reference for the courts and arbitrators," said the central bank in a statement.
Bank Negara expressed its appreciation to Sahibus Samahah Datuk Setia Dr Anhar Opir, who completes his service on the SAC on Oct 31, 2026.
