Bank Negara Malaysia announced the appointment of Prof. Dr. Amir Shaharuddin and Prof. Dr. Abdul Rahim Abdul Rahman as new members of its Shariah Advisory Council (SAC), bringing the SAC’s membership to nine. The appointments are made under section 53(1) of the Central Bank of Malaysia Act 2009 and take effect from 1 May 2025 to 30 April 2027. The SAC is the highest authority for ascertaining Islamic law for matters related to Islamic financial businesses, activities, and transactions in Malaysia, with its rulings serving as a reference for Islamic financial institutions as well as courts and arbitrators. The council continues to be chaired by Dato’ Prof. Dr. Ashraf Md Hashim, with Prof. Dr. Engku Rabiah Adawiah Engku Ali as deputy chair, and comprises members with expertise in Shariah, Islamic finance, accounting, and law; the new appointees include the Director of the Centre of Excellence Islamic Social Finance at INCEIF University and a member of the Majlis Agama Islam Wilayah Persekutuan.
Bank Negara Malaysia 2025-04-29
Bank Negara Malaysia appoints Prof. Dr. Amir Shaharuddin and Prof. Dr. Abdul Rahim Abdul Rahman to Shariah Advisory Council
Bank Negara Malaysia has appointed Prof. Dr. Amir Shaharuddin and Prof. Dr. Abdul Rahim Abdul Rahman to its Shariah Advisory Council (SAC), increasing its membership to nine. The SAC, chaired by Dato’ Prof. Dr. Ashraf Md Hashim, is the highest authority on Islamic law for financial matters in Malaysia. The appointments are effective from 1 May 2025 to 30 April 2027.