The Bangladesh Securities and Exchange Commission issued an order repealing its 28 May 2023 order that reconstituted the Shari'ah Advisory Council (SAC), with immediate effect. The Commission cited the need to reconstitute the existing SAC to protect investors’ interests in securities in line with Islamic Shari’ah and to support the development of Bangladesh’s Islamic capital market. The repeal was made under section 20A of the Securities and Exchange Ordinance, 1969 and rule 3(1) of the Bangladesh Securities and Exchange Commission (Securities Market Shari'ah Advisory Council) Rules, 2022.
Bangladesh Securities & Exchange Commission 2025-05-29
Bangladesh Securities and Exchange Commission repeals its 2023 order reconstituting the Shari'ah Advisory Council
The Bangladesh Securities and Exchange Commission repealed its 28 May 2023 order reconstituting the Shari'ah Advisory Council (SAC) to better align with Islamic Shari’ah and support the Islamic capital market. This action was taken under section 20A of the Securities and Exchange Ordinance, 1969, and rule 3(1) of the Bangladesh Securities and Exchange Commission (Securities Market Shari'ah Advisory Council) Rules, 2022.