Bank Negara Malaysia (Bank) announces today the appointment of the Shariah Advisory Council (SAC) members of the Bank for the term 1 November 2019 – 31 October 2022 as assented by DYMM Seri Paduka Baginda Yang di-Pertuan Agong in accordance with section 53(1) of the Central Bank of Malaysia Act 2009.
The SAC comprises nine (9) highly qualified and prominent Shariah scholars and practitioners with vast experience, domestically and abroad, particularly in the areas of Shariah, laws, Islamic economics and finance.
1. Datuk Dr. Mohd Daud Bakar
Founder and Executive Chairman, Amanie Group
2. Prof. Dr. Ashraf Md. Hashim
Chief Executive Officer, ISRA International Consulting Sdn. Bhd. (IICSB)
3. Prof. Dr. Mohamad Akram Laldin
Executive Director, International Shariah Research Academy for Islamic Finance (ISRA)
4. Prof. Dr. Engku Rabiah Adawiah Engku Ali
Professor, Institute of Islamic Banking and Finance (IiBF), International Islamic University Malaysia (IIUM)
5. Dato’ A. Aziz. A. Rahim
Chairman, Enforcement Agency Integrity Commission (EAIC) Malaysia
6. Encik Burhanuddin Lukman
Head of Takaful Unit, International Shariah Research Academy for Islamic Finance (ISRA)
7. Sahibus Samahah Dato’ Dr. Haji Anhar Haji Opir
Deputy Mufti of Selangor, Selangor Mufti Department
8. Dr. Marjan Muhammad
Head of Quality Assurance, International Shariah Research Academy for Islamic Finance (ISRA)
9. Encik Zainal Abidin Jamal
Founder and Senior Partner, Zainal Abidin & Co. (Advocates and Solicitors). (The appointment of Encik Zainal Abidin Jamal takes effect from 1 June 2020)
The SAC is the highest authority for ascertainment of Shariah in relation to Islamic banking business, takaful business and Islamic development finance business undertaken by financial institutions supervised by the Bank. It plays a central role in preserving the sanctity of Shariah and in sustaining public confidence in the Islamic finance industry.
The SAC also serves to advise the Bank on any Shariah issues relating to Islamic financial business, activities or transactions made by the Bank. As the highest authority, the rulings of the SAC serve as reference for Islamic financial institutions in ensuring that all businesses and activities, financial products and services are in compliance with Shariah principles. Their rulings may also serve as reference by the courts and arbitrators in adjudicating disputes or cases. – BNM