Bank Negara Malaysia announced the reappointment of three members of its Shariah Advisory Council (SAC), in accordance with section 53(1) of the Central Bank of Malaysia Act 2009, for terms running from 1 January 2026 to 31 December 2028. Effective from 1 January 2026, the SAC will comprise eight members with expertise and experience in Shariah, Islamic finance, accounting, audit and law. The reappointed members are Dato' Prof. Dr. Ashraf Md Hashim (Professor, INCEIF University), Prof. Dr. Engku Rabiah Adawiah Engku Ali (Honorary Professor, Institute of Islamic Banking and Finance, International Islamic University Malaysia) and Encik Burhanuddin Lukman (Independent Shariah Consultant). The other existing members are Sahibus Samahah Dato' Setia Dr. Haji Anhar Haji Opir (Mufti of Selangor), Dr. Marjan Muhammad (Deputy President Research, ISRA Institute, INCEIF University), Dr. Ahmad Basri Ibrahim (Head, Shariah Management, Permodalan Nasional Berhad), Prof. Dr. Amir Shaharuddin (Director, Centre for Excellence in Islamic Social Finance, INCEIF University) and Dr. Abdul Rahim Abdul Rahman (Member, Majlis Agama Islam Wilayah Persekutuan); Bank Negara Malaysia also noted that Datuk Prof. Dr. Mohamad Akram Laldin completes his service on the SAC on 31 December 2025 after serving since 1 November 2008. The SAC is described as the highest authority for the ascertainment of Islamic law for purposes of Islamic financial business in Malaysia, advising Bank Negara Malaysia on Shariah issues and providing rulings that serve as a reference for Islamic financial institutions, and may also be referenced by courts and arbitrators.
Bank Negara Malaysia 2025-12-31
Bank Negara Malaysia reappoints three Shariah Advisory Council members for 2026 to 2028 terms
Bank Negara Malaysia has reappointed three members to its Shariah Advisory Council (SAC) for terms from 1 January 2026 to 31 December 2028, maintaining the council's composition at eight members. The SAC, the highest authority for Islamic law in Malaysia's financial sector, advises on Shariah issues and provides rulings for Islamic financial institutions. Datuk Prof. Dr. Mohamad Akram Laldin will complete his service on 31 December 2025.