KUALA LUMPUR (June 29): The Securities Commission Malaysia (SC) has introduced a new guidance note on sukuk to help ensure sukuk issuances are better aligned with maqasid al-shariah, the ethical objectives of Islamic law.

Part of the Capital Market Masterplan 2026-2030, the SC, in a statement on Monday, said the guidance encourages shariah advisers and issuers to go beyond basic shariah compliance by considering broader economic, social and strategic outcomes.

The guidance note helps shariah advisers and issuers apply the maqasid framework to sukuk issuances while ensuring compliance with shariah requirements.

It provides practical guidance in areas including the use of proceeds, sukuk structuring, governance, disclosures and inclusivity.

The SC said the guidance aims to ensure sukuk issuances uphold six key principles: humanity, justice and benevolence, clarity and transparency, flexibility and innovation, fiduciary responsibility and accountability, and accessibility and inclusivity.

It also includes illustrative examples to help advisers and issuers apply the framework while complying with existing shariah requirements and relevant SC guidelines.