Maqasid Al-Shariah Guidance – Islamic Capital Market (ICM) Malaysia

This topic outlines Malaysia’s Islamic Capital Market (ICM) framework guided by Maqasid al-Shariah principles. The Securities Commission Malaysia’s Capital Market Masterplan 3 (CMP3) aims to position Malaysia as a regional hub for Shariah-compliant, sustainable, and responsible investment, while strengthening its role as a global leader in Islamic capital markets.

A key focus is aligning the development of the ICM with Maqasid al-Shariah through six core aspirations: humanity, justice and benevolence, clarity and transparency, flexibility and innovation, fiduciary responsibility and accountability, and accessibility and inclusivity.

Overall, the framework integrates ethical and Shariah objectives into capital market development to promote a more sustainable, fair, and inclusive Islamic financial ecosystem.