Resolutions Of The Shariah Advisory Council Of The Securities Commission Malaysia (31 December 2023)

Islamic capital market (ICM) is currently expanding rapidly. In line with this development, various issues in relation to ICM have been discussed and resolved by the Shariah Advisory Council (SAC) of the Securities Commission Malaysia (SC) through their series of meetings.

As a result of this, the SC has published the SAC resolutions in relation to the concept, ICM products and the related issues for guidance and reference. However, these SAC resolutions do not include detailed Shariah clarifications and justifications.

These SAC resolutions serve as an addition to the resolutions included in the Resolutions of the Securities Commission Malaysia Shariah Advisory Council (Second Edition), including updates on some existing resolutions.

The objectives of this publication is to–
(i) Inform the public in relation to the latest SAC resolutions; and
(ii) Serve as guidance and reference to the public and practitioners in the Islamic finance industry in developing and expanding ICM products.

This document belongs to Securities Commission Malaysia (SC). Full access to the original source is available here: https://www.sc.com.my/development/icm