22 March 2014
SC and Oxford co-host global discussion on developing waqf assets through Islamic finance

Securities Commission Malaysia (SC) and the Oxford Centre for Islamic Studies (OCIS) co-hosted the 5th Roundtable on Islamic Finance in Kuala Lumpur today to discuss the development of Waqf, an Islamic endowment, and how it can contribute towards broadening the Islamic finance industry globally.

Themed Harnessing Waqf Into a Bankable Social Financing and Investment Asset Class, the annual roundtable is attended by leading industry practitioners and scholars from around the world. The two-day roundtable, held from 22 to 23 March, seeks to discuss challenges and potential of waqf in the philanthropic spheres, including issues of legislation, governance and professionalism, and capital.

Waqf has historically been an important instrument for development in Muslim societies and today there is a renewed interest to revive waqf institutions and unleash the potential value of Islamic social assets such as waqf.

The global effort to harness Waqf into a bankable social financing and investment asset class is also in line with SC’s strategy to identify new growth segments to further internationalise Malaysia leading position in Islamic finance industry.

Datuk Ranjit Ajit Singh, Securities Commission Malaysia (SC) Chairman, and Dr Farhan Nizami, director of the Oxford Centre for Islamic Studies (OCIS), presenting HRH Raja Dr Nazrin Shah, Raja Muda of Perak with a copy of the Proceedings of the 4th SC-OCIS Roundtable 2013.

From left: Dato Seri Setia Awang Metussin Baki, Brunei Darussalam Syariah High Court Judge, Orang Kaya Kaya Imam Paduka Tuan Dato’ Dr Muhammad Afifi Al-kiti, Dato Dr Nik Ramlah Mahmood, Deputy Chief Executive, Securities Commission Malaysia (SC), Dato’ Seri Ismail Shahudin, Dr Farhan Nizami, Oxford Centre for Islamic Studies (OCIS) Director, Orang Kaya Kaya Seri Adika Raja Shahbandar Muda Dato’ Ir Mohamad Othman Bin Zainal Azim, Datuk Ranjit Ajit Singh, Securities Commission Malaysia (SC) Chairman, Orang Kaya Kaya Shahbandar Paduka Indera Dato’ Mohd Redzuan Kushairi, HRH Raja Dr Nazrin Shah Ibni Sultan Azlan Muhibbuddin Shah, Raja Muda of Perak, Dato Dr Zambry Abdul Kadir, Chief Minister of Perak Darul Ridzuan, Tan Sri Azman Mokhtar, Managing Director, Khazanah Nasional Berhad, Tan Sri Zarinah Anwar, Abdullah bin Abdulaziz Fellow, OCIS, HE Maher Ahmad Lukasha, Jordanian Ambassador to Malaysia, Tun Mohamed Dzaiddin Abdullah, Bursa Malaysia Chairman, Tan Sri Mohd Jawhar Hassan, SC Commission Member, and HE Ong Keng Yong, Singapore High Commissioner to Malaysia.