SC launches two initiatives to drive Maqasid Al-Shariah adoption in ICM
KUALA LUMPUR: The Securities Commission Malaysia (SC) has unveiled the 40 Hadiths book series on sustainability and ethical sales transactions to promote a deeper understanding of the Islamic perspective on sustainability and Islamic ethics in commercial transactions.
Launched during the third SC Nadwah of Shariah Advisers in the Islamic capital market (ICM), the commission said the book aims to enhance industry awareness and encourage practical implementation of these principles.
The series marks a significant milestone in raising industry awareness on embedding the principles of Maqasid al-Shariah Guidance in ICM, specifically in areas such as environmental stewardship, responsible business, and trade practices.
SC chairman Datuk Mohammad Faiz Azmi said internalising the guidance encapsulated in these hadiths contributes to the development of a just, inclusive and sustainable economy.
"More importantly, the SC is committed to making Maqasid al-Shariah a fundamental framework for business dealings in ICM,' he said in a statement.
The SC also announced the establishment of the Maqasid al-Shariah Task Force for ICM, which will drive and coordinate adoption of these principles across the Malaysian ICM.
This includes identifying areas for strategic collaboration and innovation between regulatory bodies and industry players.
Members of the task force include Bursa Malaysia Bhd , the Malaysian Association of Asset Managers, the Federation of Investment Managers Malaysia, the Malaysian Investment Banking Association, the Association of Islamic Banking and Financial Institutions Malaysia, the Islamic Banking and Finance Institute Malaysia, and the International Council of Islamic Finance Educators.
Established in 2023, the SC Nadwah serves as a platform for intellectual discourse, sharing applied Shariah knowledge, and charting the next wave of innovative Shariah solutions among Shariah advisers and market practitioners.
The 40 Hadiths book series is available for download at https://www.sc.com.my/resources/publications-and-research. - Bernama
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