Supervising sharia

Special Report - Malaysia: Q&A

asiarisk-feb08-20-gif

Why was the Shariah Advisory Council (SAC) set up and what are its day-to-day activities?

Mohd Daud Bakar: The sharia board came into existence in 1997. A section in the Banking and Financial Institution Act 1987 allowed the central bank to appoint the board. And in 2004, the Central Banking Act was amended to specifically establish the board and give it very clear cut responsibilities and privileges.

The members of the board are not employees of the central bank (Bank Negara Malaysia); we are adv

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: