BNM reappoints three Shariah Advisory Council members

by BERNAMA / pic by TMR FILE

KUALA LUMPUR – Bank Negara Malaysia (BNM) has announced the reappointment of three Shariah Advisory Council (SAC) members for a period of three years effective from Nov 1, 2021.

It said the reappointed members are Mufti of Selangor Datuk Dr Anhar Opir, International Shariah Research Academy for Islamic Finance (ISRA) head of quality assurance Dr Marjan Muhammad and Zainal Abidin and Co (advocates and solicitors) founder and senior partner Zainal Abidin Jamal.

BNM said the reappointment was assented by the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah in accordance with section 53(1) of the Central Bank of Malaysia Act 2009.

“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,” it said in a statement today.

The other six members of the SAC are Tan Sri Dr Mohd Daud Bakar as chairman, Prof Dr Ashraf Md Hashim as deputy chairman, Prof Dr Mohamad Akram Laldin, Prof Dr Engku Rabiah Adawiah Engku Ali, Datuk A Aziz A Rahim and Burhanuddin Lukman.

The central bank said SAC, the highest authority for the ascertainment of Shariah in Islamic finance, played 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 principle.

“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,” it added.