The Securities Commission Malaysia (SC) issued the Guidelines on Islamic Capital Market Products and Services to consolidate all existing Shariah requirements in the different guidelines and serve as a single point of reference for those offering or intending to offer Islamic capital market products and services. This is part of the SC's incentive to further enhance the Shariah governance framework for the Islamic capital market in Malaysia.
The guidelines:
- supersede and replace the Guidelines for Shariah Advisers and Guidelines on Islamic Fund Management; and
- consist of a solely dedicated Waqf-featured framework, which signifies waqf as an important enabler in harnessing the value proposition of Islamic social finance for sustainable and responsible investment initiatives.
For further information on this topic please contact Pamela Kung at Shearn Delamore & Co by telephone (+60 3 2027 2911) or email ([email protected]). The Shearn Delamore & Co website can be accessed at www.shearndelamore.com.