KUALA LUMPUR (April 29): Bank Negara Malaysia (BNM) on Tuesday announced the appointment of two new members to the Shariah Advisory Council (SAC), effective May 1, 2025.

The SAC is the highest authority on Islamic law for Islamic financial business in Malaysia, advising BNM on shariah matters related to Islamic financial businesses, activities, and transactions.

In a statement, the central bank said the two new members are Prof Dr Amir Shaharuddin, who is director of the Centre of Excellence in Islamic Social Finance at INCEIF University; and Prof Dr Abdul Rahim Abdul Rahman, a member of Majlis Agama Islam Wilayah Persekutuan (MAIWP).

Both members will serve a two-year term, ending on April 30, 2027. The appointments were made under Section 53(1) of the Central Bank of Malaysia Act 2009, BNM noted.

With the new appointments, the SAC will comprise nine members, with Datuk Prof Dr Ashraf Md Hashim as chairman, and Prof Dr Engku Rabiah Adawiah Engku Ali as deputy chair.

“The SAC’s rulings serve as a reference for Islamic financial institutions to ensure their operations comply with shariah principles. The rulings also guide the courts and arbitrators,” the statement said.

BNM added that the SAC thus plays a central role in promoting certainty in shariah practices, and in sustaining public confidence in the Islamic finance industry.