The Shariah Advisory Council (SAC) of Securities Commission Malaysia (SC) was established on 16 May 1996. Under the Securities Commission Malaysia Act 1993, the SAC of SC shall be the authority for the ascertainment of the application of Shariah principles for the purposes of Islamic capital market (ICM) business or transaction and it was given the mandate to ensure that the implementation of ICM complies with Shariah principles. The SAC of SC plays the role to advise the SC on any Shariah issue related to ICM business or transaction. It also functions as a reference centre for all matters relating to ICM which include to issue ruling on any matter relating to ICM and to provide advice to any person on any Shariah issue relating to ICM business or transaction.
The members of the SAC of SC are appointed by the Yang di-Pertuan Agong. It comprises prominent Shariah scholars, academicians and market practitioners who have vast knowledge and experience in Shariah, capital market, finance, economics and law. The members of the SAC of SC for the term 1 July 2026 to 30 June 2029 are as follows:
Professor Dr Engku Rabiah Adawiah Engku Ali
Honorary Professor IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
Dato' Dr Ashraf Md Hashim
Shariah Consultant (Islamic Finance)
Sahibus Samahah Professor Dato’ Dr Asmadi Mohamed Naim
Mufti of Pahang
Sahibus Samahah Dato’ Setia Dr Haji Anhar Haji Opir
Mufti of Selangor
Dr Marjan Muhammad
Deputy President Research ISRA Institute, INCEIF University
Encik Burhanuddin Lukman
Former Researcher International Shariah Research Academy for Islamic Finance (ISRA)
Yang Berhormat Senator Dato’ Setia Dr Haji Mohd Na’im Haji Mokhtar
The Securities Commission Malaysia (SC) was established on 1 March 1993 under the Securities Commission Act 1993 (SCA). We are a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market.
