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Greetings from MIFC
The MIFC newsletter brings you global developments and news in the world of Islamic finance. In this issue, we highlight on Centralised Shariah Advisory Authorities in Islamic Finance. Shariah governance is a critical component of a comprehensive regulatory and supervisory infrastructure to ensure Shariah compliance in Islamic financial business. The framework for Shariah governance varies from one jurisdiction to another, but it is generally comprised of two important components, i.e. the Shariah advisory authority appointed by the regulator and the Shariah body established by individual Islamic financial institution. The different model and approach adopted by each country in setting up its centralised Shariah advisory authority commensurate with the size, maturity and complexity of its Islamic financial industry. For more information on Centralised Shariah Advisory Authorities in Islamic Finance, kindly download the infographic.

Thank you,
The MIFC Team

Centralised Shariah Advisory Authorities in Islamic Finance
View Infographic

Appointment of Members of the Shariah Advisory Council Bank Negara Malaysia

Bank Negara Malaysia announced the appointment of the Shariah Advisory Council (SAC) members of the Bank for the term 1 November 2019 – 31 October 2022 which comprises nine (9) highly qualified and prominent Shariah scholars and practitioners.
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Assistant Governor's Speech: Sustainability and the Challenges Ahead

Islamic finance is primed to advance the sustainability agenda. Islamic finance is developed with a higher overarching objective that emphasises maximising positive value creation and prevention of negative impact.
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Securities Commission Malaysia launches SRI roadmap to drive sustainable development

The Securities Commission Malaysia (SC) today released the Sustainable and Responsible Investment Roadmap for the Malaysian Capital Market (SRI Roadmap) aimed at creating an SRI ecosystem and lay out the role of the capital market in driving Malaysia’s sustainable development.
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Bursa Malaysia: Shariah Equities Market

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Value-based Intermediation Financing and Investment Impact Assessment Framework (VBIAF)

Bank Negara Malaysia issued the Guidance Document for VBIAF aims to facilitate the implementation of an impact-based risk management system for assessing the financing and investment activities of Islamic financial institutions in line with VBI commitments. 
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Stimulus effects from Malaysia’s top-down approach to Islamic
finance industry

Proactive engagement between the regulators and industry players is key to the successful implementation of policies and guidelines aimed at ensuring that Malaysia remains at the forefront of the global Islamic finance industry.
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Malaysia Continues to Lead in Global Islamic Economy

Malaysia continues to lead in the Global Islamic Economy Indicator (GIEI) this year, the highest accomplishment among the seven Top Five positions it achieved.
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Decrease in SRR Ratio

Bank Negara Malaysia announced that the Statutory Reserve Requirement (SRR) Ratio will be lowered from 3.50% to 3.00% effective from 16 November 2019.
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Islamic Finance Library
Islamic Finance Dashboard
Calendar of Events
Sukuk: Structuring & Issuing
Date: 18 -19 December 2019
Venue: Kuala Lumpur, Malaysia

For more information please click here
Other News
  1. Indonesia's Sharia committee wants to quadruple Islamic bank assets by 2024, will partner with Malaysia
  2. Sedania Launches Islamic Financial Marketplace
  3. CIIF expands its flagship programme globally
  4. Wethaq Launches First ‘Fintech’ Sukuk
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