Search
22 April 2025, Kuala Lumpur – The Securities Commission Malaysia (SC) today commenced the third cohort of its Shariah Mentorship Programme (SMP), aimed at nurturing a new generation of Shariah professionals in the Islamic capital market (ICM).
The event also celebrated 15 graduates of the second cohort of SMP, marking a significant step in the SC’s efforts to strengthen Shariah talent development and governance in the ICM.
The SMP, funded by the Capital Market Development Fund (CMDF), was introduced by the SC in 2023. The mentorship initiative is run by ISRA Consulting, wholly owned by INCEIF University.
The programme combines practical knowledge, industry exposure, and mentorship by members of the SC’s Shariah Advisory Council. Each cohort goes through an eight-month programme which includes three months of intensive classroom sessions, followed by five months of industry placements to gain hands-on experience in Shariah advisory within Islamic finance.
The SC Chairman Dato’ Mohammad Faiz Azmi said SMP, one of the initiatives under the Capital Market Masterplan 3, would help nurture a sustainable Shariah talent pipeline and build industry capacity.
“Through a structured approach, SMP also aims to support the broader objectives of Maqasid al-Shariah by fostering values of integrity, ethics and sound judgement. These are essential for Shariah advisory roles in order to serve the greater good of the market and society.
“SC is also looking at the whole ecosystem beyond Shariah professionals to developing the next generation of Shariah scholars and the scope of their work, in order to solidify SC’s leadership in this area,” Dato’ Faiz said.
INCEIF University PCEO, Professor Emeritus Dato’ Dr Azmi Omar, commended the initiative, stating, “We are proud to play a key role in supporting the SC’s vision for a robust and dynamic Islamic capital market. Through ISRA Consulting, INCEIF remains committed to nurturing highly competent Shariah professionals equipped to meet the evolving needs of the industry.”
He added, “The success of the Shariah Mentorship Programme also reflects INCEIF University’s broader mission to bridge the gap between academic knowledge and industry practice, ensuring our graduates and talents contribute meaningfully to the global Islamic finance ecosystem.”
One of the participants, Nur Shahindah Izzati Khaidir who is a graduate of Bachelor of Shariah (Shariah and Economics) from University Malaya, developed an impressive Excel Master Template for Shariah-Compliant Securities Analysis. She designed and created a structured, Excel-based comparative tool that enables efficient analysis of Shariah-compliant securities across major index providers.
This innovative tool significantly streamlined the assessment process for the product team at the Securities Commission, making it easier to evaluate compliance status. Remarkably, she completed the project within a short timeframe, earning high praise and admiration from both her supervisor and the Securities Commission Chairman for her initiative, technical skill, and impactful contribution.
To date, the SMP has produced 30 alumni, more than 70% of whom are now serving in various Islamic finance institutions. It is anticipated that the alumni will be registered as Shariah advisers with the SC in the next five years. More than 250 applications were received when applications for the second cohort was opened in March this year, with 15 participants selected including fresh graduates from the renowned Al-Azhar University. This brings the cumulative number of participants in the programme to 30 since inception.
For more information on the Shariah Mentorship Programme, please visit https://inceif.edu.my/shariah-mentorship-programme/
