The event also celebrated 15 graduates of the second cohort of SMP, marking a significant step in the SC’s efforts to strengthen Shariah talent development and governance in the ICM.

The SMP, funded by the Capital Market Development Fund (CMDF), was introduced by the SC in 2023. The mentorship initiative is run by ISRA Consulting, wholly owned by INCEIF University.

The programme combines practical knowledge, industry exposure, and mentorship by members of the SC’s Shariah Advisory Council.

Each cohort goes through an eight-month programme which includes three months of intensive classroom sessions, followed by five months of industry placements to gain hands-on experience in Shariah advisory within Islamic finance.

The SC Chairman Dato’ Mohammad Faiz Azmi said SMP, one of the initiatives under the Capital Market Masterplan 3, will help nurture a sustainable Shariah talent pipeline and build industry capacity.

“Through a structured approach, SMP also aims to support the broader objectives of Maqasid al-Shariah by fostering values of integrity, ethics and sound judgement,” he said. “These are essential for Shariah advisory roles in order to serve the greater good of the market and society.”

“SC is also looking at the whole ecosystem beyond Shariah professionals to developing the next generation of Shariah scholars and the scope of their work, in order to solidify SC’s leadership in this area.”

To date, the SMP has produced 30 alumni where more than 70% of whom are now serving in various Islamic finance institutions. It is anticipated that the alumni will be registered as Shariah advisers with the SC in the next five years.

For more information on the Shariah Mentorship Programme, please visit www.inceif.edu.my/shariah-mentorship-programme/.