The Central Bank of Malaysia has announced the appointment of Ahmad Fauwaz Fadzil, the Mufti of the Federal Territory, to its Shariah Advisory Council (SAC) for a term of two years beginning Nov. 1, 2026. Anhar Opir will complete his service on the council on Oct. 31, 2026. Following the appointment, the SAC will comprise nine members with expertise in Shariah, Islamic finance, accounting and law. The council is Malaysia’s highest authority for determining Islamic law for Islamic financial business and advises the central bank on Shariah issues relating to its Islamic financial activities and transactions. Its rulings serve as a reference for Islamic financial institutions, courts and arbitrators.
Central Bank of Malaysia appoints Ahmad Fauwaz Fadzil to Shariah Advisory Council
The Central Bank of Malaysia has named Ahmad Fauwaz Fadzil to its Shariah Advisory Council for a term of two years starting Nov. 1, 2026. The council will comprise nine members and is Malaysia’s highest authority for determining Islamic law for Islamic financial business.