INCEIF PCEO on SC’s Shariah Advisory Council

Kuala Lumpur, 1 July 2020 – INCEIF congratulates President & CEO Prof Dato’ Dr Azmi Omar on his appointment to The Securities Commission Malaysia’s Shariah Advisory Council, effective 1 July 2020 for a 3-year term. The SAC members, appointed by the Yang di-Pertuan Agong, is a key pillar in the development of the Islamic capital market in Malaysia especially in facilitating innovation and ensuring a robust Shariah governance process. The function of the SAC provides greater consistency and clarity to issuers, intermediaries and investors in the Malaysian Islamic capital market. The SAC, given the expertise of its members, also plays an instrumental role in strengthening the country’s position as a leading international Islamic financial centre. The Council is empowered to ascertain the application of Shariah principles on any matter pertaining to Islamic capital market business or transaction, and to advise the SC on any Shariah issue relating to Islamic capital market business or transactions. The SAC is also empowered to provide advice to any person on Shariah issues relating to Islamic capital market business or transaction.

Dato’ Azmi also currently sits on the Shariah Committee of Bank Rakyat Malaysia and Etiqa Takaful Malaysia. Internationally, he is an Islamic Finance Expert to the Autoriti Monetari Brunei Darussalam. Previously, he led a team that developed the Indonesia Shari’ah Economy Masterplan 2019-2024 for the government of Indonesia.

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