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 2020 to 30 June 2023 are as follows:
Chairman
Tan Sri Dr. Mohd Daud Bakar
Executive Chairman Amanie Group
Deputy Chairman
Professor Dr. Aznan Hasan
Professor IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
Dr. Shamsiah Mohamad
Former Senior Researcher International Shariah Research Academy for Islamic Finance (ISRA)
Professor Dr. Engku Rabiah
Adawiah Engku Ali
Professor IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
Professor Dr. Ashraf Md Hashim
Chief Executive Officer ISRA International Consulting Sdn. Bhd.
Professor Dr. Asmadi
Mohamed Naim
Vice Chancellor Universiti Islam Antarabangsa Sultan Abdul Halim Mu’adzam Shah (UniSHAMS)
Associate Professor
Dr. Mohamed Fairooz Abdul Khir
Associate Professor School of Graduate and Professional Studies, International Centre for Education in Islamic Finance (INCEIF)
Professor Dato’ Dr. Mohd Azmi Omar
President and Chief Executive Officer International Centre for Education in Islamic Finance (INCEIF)
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.
