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Kuala Lumpur, 17 Dec 2024 – INCEIF University congratulates Dr Marjan Muhammad, Deputy President Research at ISRA Research Management Centre on her reappointment to Bank Negara Malaysia’s Shariah Advisory Council (SAC), the highest authority on Islamic law for the purposes of Islamic financial business in Malaysia. The appointment is in accordance with section 53(1) of the Central Bank of Malaysia Act 2009.
The seven-member SAC is chaired by Prof Dr Ashraf Md Hashim who is an INCEIF University faculty member. Another INCEIF faculty member, Datuk Prof Dr Mohamad Akram Laldin, also sits on the Council.
The SAC is the highest authority for ascertaining Islamic law for purposes of Islamic financial business in Malaysia. The SAC also advises BNM on Shariah issues relating to Islamic financial businesses, activities or transactions. The rulings of the SAC serve as a reference for Islamic financial institutions in ensuring their business operations comply with Shariah principles. The rulings may also serve as a reference for the courts and arbitrators. The SAC is thus central to promoting certainty of Shariah practice and sustaining public confidence in the Islamic finance industry.
INCEIF takes pride in becoming the bridge between academia and the industry, and is therefore honoured to have its faculty and top management contributing to pivotal decision-making processes that shape the future of Islamic finance.
The full list of the SAC, which comprises seven members with expertise and experience in Shariah, Islamic finance and law, are:
Prof. Dr. Ashraf Md Hashim (Chairman)
Professor, INCEIF University
Prof. Dr. Engku Rabiah Adawiah Engku Ali (Deputy Chair)
Honorary Professor, Institute of Islamic Banking and Finance, International Islamic University Malaysia
Datuk Prof. Dr. Mohamad Akram Laldin (Member)
Professor, INCEIF University
Mr Burhanuddin Lukman (Member)
Member of Hajj Advisory Committee, Lembaga Tabung Haji
Sahibus Samahah Dato’ Setia Prof. Madya Dr. Haji Anhar Haji Opir (Member)
Mufti of Selangor
Reappointed from 1 November 2024 until 31 October 2026
Dr. Marjan Muhammad (Member)
Deputy President Research, INCEIF University
Reappointed from 1 November 2024 until 31 October 2027
Dr. Ahmad Basri Ibrahim (Member)
Head, Shariah Management, Permodalan Nasional Berhad Reappointed from 1 January 2025 until 31 December 2027ision-making processes that shape the future of Islamic finance.