KUALA LUMPUR (Jan 25): Bank Negara Malaysia announced nine members to the Shariah Advisory Council (SAC) with four reappointments and two new members in accordance with Section 53(1) of the Central Bank of Malaysia Act 2009, effective from Jan 1, 2023.

In a statement on Wednesday (Jan 25), the four reappointed members include new SAC chairman Professor Dr Asharf Md Hashin from INCEIF University, while Professor Dr Engku Rabiah Adawiah Engku Ali from the International Islamic University Malaysia is appointed as deputy chairman.

Other reappointments include ISRA Research Management Centre executive director Datuk Professor Dr Mohamad Akram Laldin and Burhanuddin Lukman, haji advisory committee member from Lembaga Tabung Haji.

The two newly appointed members included former Federal Court judge Datuk Seri Mohd Zawawi Salleh and Permodalan Nasional Bhd head of Shariah management Dr Ahmad Basri Ibrahim.

BNM added that the reappointments were for a three-year term while the two new appointments were for a two-year term.

Three other existing members in the council are Selangor mufti Datuk Dr Anhar Opir, ISRA Research Management Centre director of research quality assurance and publications Dr Marjan Muhamad, and Zainal Abidin & Co (Advocates and Solicitors) founder and senior partner Zainal Abidin Jamal .

“The SAC is the highest authority for the ascertainment of Islamic law for purposes of Islamic financial business in Malaysia. It is central in promoting Shariah certainty and sustaining public confidence in the Islamic finance industry,” read the statement.

“The SAC also advises the bank on Shariah issues relating to Islamic financial businesses, activities or transactions of the bank.

“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,” it said.

The central bank also expresses its appreciation to former SAC chairman Tan Sri Dr Mohd Daud Bakar — who assumed the position on Dec 27, 2006 — and Datuk A Aziz A Rahim, who was first appointed to the SAC on Nov 1, 2016.

“The SAC plays a pivotal role in advancing Malaysia’s Islamic finance aspirations. Over the years, Tan Sri Dr Mohd Daud Bakar and Datuk A Aziz A Rahim made significant contributions in that journey, and I would like to express my deepest thanks for their unwavering commitment and dedication,” said BNM governor Tan Sri Nor Shamsiah Mohd Yunus.