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PwC Malaysia

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PwC is one of the key leaders in Islamic finance globally, and has worked with various stakeholders including governments, regulators and financial institutions in this area. The firm has dedicated Islamic finance teams in the Middle East, Malaysia, and the United Kingdom, bringing extensive experience in advising clients on the most relevant issues in the industry. The firm was recognised as the “Best Islamic Consultancy” during the Islamic Finance News Awards Poll in 2012.
Over the last few years, PwC has shaped the industry in various ways through its work with several standard-setting organisations. For example, in the area of financial reporting, PwC has worked closely with the International Accounting Standards Board (IASB) on the application of IFRS to Islamic financial instruments and transactions. PwC Malaysia Executive Chairman Dato’ Mohammad Faiz Azmi  is also the Chair of IASB’s Islamic Finance Consultative Group which advises IASB on Islamic finance matters.  
In the area of tax, PwC has worked with many policymakers in the region to promote tax neutrality in order to harmonise key tax rules towards Islamic finance. With regards to advisory, PwC has provided advice to clients in the area of Islamic finance to strengthen the level of Shariah governance in their organisations, and to convert several core banking operations to Shariah-compliant banking.

Area of Services

The following are some examples of other PwC services for the Islamic finance industry:

  • Audit and assurance
  • Accounting opinions
  • IFRS/The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) gap assessments
  • Market feasibility assessments and strategy development
  • Valuation and transaction advisory
  • Islamic finance training
  • Shariah governance, risk and compliance
  • Tax advisory


  • Best Islamic Consultancy - Islamic Finance News Awards Poll 2012
  • Collaborated with regulators in formulating tax incentives to promote Malaysia as an international Islamic financial centre.
  • Provided accounting and tax advice to various clients on structuring Islamic banking products and Islamic bonds. Instrumental in advising on the setting up of Islamic funds including private equity funds located in and out of Malaysia.
  • Performed financial and tax due diligences for major Islamic banks and takaful companies.
  • Carried out market feasibility studies for international investors evaluating the prospects of setting up a presence in the ASEAN region.

Contact details

PwC Malaysia
Level 10, 1 Sentral, Jalan Travers,
Kuala Lumpur Sentral,
50470 Kuala Lumpur, Malaysia

Dato Mohammad Faiz Azmi
T +603 2173 0867

Nik Shahrizal Sulaiman
T +603 2173 1726