Reappointment of Three Members of the BNM Shariah Advisory Council

Bank Negara Malaysia announces today the reappointment of three Shariah Advisory Council (SAC) members of the Bank for a three-year term. The reappointment will take effect from 1 November 2021 as assented by KDYMM Seri Paduka Baginda Yang di-Pertuan Agong in accordance with section 53(1) of the Central Bank of Malaysia Act 2009. The reappointed members are:

1) Sahibus Samahah Dato’ Dr. Haji Anhar Haji Opir
Mufti of Selangor

2) Dr. Marjan Muhammad
Head of Quality Assurance, International Shariah Research Academy for Islamic Finance (ISRA)

3) Encik Zainal Abidin Jamal
Founder and Senior Partner, Zainal Abidin & Co. (Advocates and Solicitors)

With this reappointment, the SAC lineup comprises nine 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. The other six members are:

1) Tan Sri Dr. Mohd Daud Bakar - Chairman of SAC
Founder and Executive Chairman, Amanie Group

2) Prof. Dr. Ashraf Md. Hashim – Deputy Chairman of SAC
Chief Executive Officer, ISRA International Consulting Sdn. Bhd.

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
Former Chairman Enforcement Agency Integrity Commission (EAIC) Malaysia, and Former Judge of Court of Appeal

6) Encik Burhanuddin Lukman
Former Head of Takaful Unit, International Shariah Research Academy for Islamic Finance (ISRA)

The SAC is the highest authority for the ascertainment of Shariah in Islamic finance. It plays a central role in preserving the conformity with Shariah and sustaining public confidence in the Islamic finance industry that enables the offering of financial services according to Shariah principles. The SAC also advises 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 a 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 a reference by the courts and arbitrators in adjudicating disputes or cases.

Bank Negara Malaysia

18 Nov 2021