SC, Durham University forge partnership to advance Islamic finance education
The MoU includes the newly launched Islamic Capital Market (ICM) Summer School initiative, which the Durham University Centre for Islamic Economics and Finance organises in collaboration with its Business School.
The initiative aims to equip professionals with strategic leadership skills and a deeper understanding of Maqasid al-Shariah in Islamic capital markets.
SC chairman Datuk Mohammad Faiz Azmi said the initiative is a milestone in nurturing future leaders of Islamic finance.
"This is driven by a shared commitment to advance capacity and thought leadership in the industry, from practitioners to seasoned scholars," he said in a statement.
"By embedding Maqasid al-Shariah principles, we aim to build an ethical, sustainable and innovative capital market."
He said the programme aligns with the values outlined in the Maqasid al-Shariah Islamic Capital Market Guidance introduced by the SC in 2023.
Durham University vice-chancellor and warden professor Karen O'Brien said the university has a long-standing contribution to Islamic finance research and education.
"Durham has a history of over 30 years in Islamic finance research and has trained over 1,500 individuals through our summer school since 2006.
"This new partnership will continue to train and inspire current and future leaders, upholding a tradition of thought, practice and leadership," she said.
Running from 2025 to 2027, the ICM Summer School will offer one cohort annually, starting in the third quarter of 2025. Each cohort will include 15 participants in a month-long hybrid programme.
The curriculum will cover key areas, including sukuk, Islamic equities, Shariah-compliant products, fintech, sustainability, regulatory frameworks, and product innovation.
A core emphasis will be placed on the application of Maqasid al-Shariah principles to foster a more inclusive and resilient Islamic capital market.
Targeted at mid- to senior-level professionals with at least five years of experience in the Islamic finance industry, the programme combines online modules and a five-day in-person masterclass at Durham University.
Graduates will receive joint certification from the SC and Durham University.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 hours ago
- The Sun
Halal auditors must uphold fairness and integrity, says Mohd Na'im
BANGI: The Minister in the Prime Minister's Department (Religious Affairs), Datuk Dr Mohd Na'im Mokhtar, has stressed the need for halal auditors to perform their duties with unwavering integrity and impartiality. Speaking at the Malaysian Auditor Convention 2025, he warned that negligence or bias could damage the credibility of Islamic institutions. 'Fairness must be upheld without differentiating the position of applicants seeking halal certification. This is the role that needs to be fulfilled,' he said. He also cautioned against any form of bribery or preferential treatment, emphasising that justice must guide the auditing process. Mohd Na'im highlighted the importance of ethical conduct, urging auditors to avoid accepting gifts from companies applying for halal certification. 'Sometimes, it's not directly requested, but we make things difficult for applicants, leading them to believe auditors expect rewards. Intentions must be correct,' he added. The minister reminded the 300 JAKIM-certified auditors to uphold ethical standards to protect the institution's reputation. The convention, themed 'Halal Malaysia, A Catalyst for MADANI Economy,' saw the launch of the Halal Auditor Guidelines, a key reference for auditors. A special training course will also be conducted to deepen their understanding of the guidelines. Malaysia currently has 380 halal auditors, with 202 officially recognised as competent. – Bernama
The Sun
3 hours ago
- The Sun
Investments crucial in advancing Asean sustainability agenda: SC chairman
KUALA LUMPUR: Investments are crucial in accelerating Asean's sustainability journey, particularly in the development of green industries such as renewable energy, clean technology, and regional carbon markets. To achieve carbon neutrality by 2050, the region will require an estimated US$3.7 trillion to US$6.7 trillion (RM15.6 trillion to RM28.3 trillion) in green investments. Securities Commission Malaysia (SC) chairman Datuk Mohammad Faiz Azmi highlighted that Southeast Asia accounted for only 2% of global clean energy spending in 2023, underscoring the significant gap between current investment levels and the region's long-term sustainability goals. 'Mobilising sufficient financing will be key to managing our transition successfully,' he said at the SIDC–CASI Sustainable and Responsible Investment (SRI) Conference 2025 today. Faiz noted that Asean is poised to be a major contributor to global growth in the medium term, with its share projected to be about 33.7% of global gross domestic product. However, he stressed that sustained resilience is essential amid ongoing geopolitical and economic uncertainties. Elaborating on how the SC and its regional counterparts are working to ensure capital markets support a sustainable Asean, Faiz said it involves promoting the adoption of sustainable financing through the development of taxonomies to identify green activities and projects. 'The Asean Taxonomy for Sustainable Finance serves as a template to assess and classify eligible green activities,' he said. Six key sectors – energy, transport and storage, construction and real estate, agriculture, manufacturing, and water and waste management – which together contribute 85% of the region's greenhouse gas emissions, have been prioritised. 'The technical screening criteria developed for these sectors will help attract sustainable investments and financing,' Faiz said. He emphasised that sustainable growth requires ongoing investment in resources and capacity-building. 'The SC is facilitating the establishment of an association for sustainability practitioners – including preparers, auditors, and other related professionals – to address current and future training needs, develop relevant skills, and set professional standards,' he said. Malaysia's Asean chairmanship includes leading the Asean Capital Markets Forum (ACMF), a regional platform for securities regulators. Underscoring the importance of decarbonisation, Faiz noted that the ACMF recently issued the Asean Transition Finance Guidance to help companies create credible transition plans and secure the necessary financing. 'Carbon markets and mechanisms are taking shape across Asean member countries, and the ACMF is assessing the feasibility of introducing Voluntary Carbon Market Guidelines,' he said. On the challenge of adaptation financing, Faiz pointed out that many adaptation projects – such as seawall construction – lack commercial returns and rely heavily on public funding. 'There could be a role for market-based financing solutions if we can enhance the bankability of these projects.' The SIDC–CASI SRI Conference 2025, jointly organised by the Securities Industry Development Corporation (SIDC) and the Capacity-building Alliance of Sustainable Investment (CASI), opened yesterday with a series of insightful dialogues, strategic partnerships and immersive experiences showcasing sustainable practices in Malaysia. The three-day conference, which began yesterday, has attracted over 300 local and international delegates under the theme 'Shaping the Future of Asean Business in Sustainability'. A key highlight is the signing of a memorandum of understanding (MoU) between SIDC and CASI, formalising a long-term collaboration to advance sustainable finance education and talent development across Asean and other developing regions. The MoU outlines a strategic framework for academic and professional cooperation, focusing on joint initiatives that enhance capacity in sustainable finance, particularly within emerging markets. SIDC CEO Tengku Zarina Tengku Chik stated that the ongoing collaboration reflects a shared commitment to developing sustainable finance competencies not only in Malaysia but also across emerging markets in Asia and beyond. CASI chairman Dr Ma Jun said the partnership with SIDC marks a significant step forward in promoting sustainable finance education and talent development across Malaysia and the Asean region. Throughout the conference, participants will delve into critical topics such as ESG disclosures, Islamic SRI, sustainability taxonomies, carbon markets, green skills, and just transition financing, reinforcing Malaysia's leadership in building a vibrant and resilient regional SRI ecosystem.
Barnama
4 hours ago
- Barnama
Bank Islam Issues Ninth Tranche Of RM1 Bln Senior Sukuk Murabahah
In a statement today, Bank Islam said the sukuk has received an overwhelming response from investors with a high bid-to-cover ratio of three times. The issuance marks the ninth tranche under the bank's RM10 billion Sukuk Murabahah Programme. KUALA LUMPUR, July 29 (Bernama) -- Bank Islam Malaysia Bhd has issued RM1.0 billion Senior Sukuk Murabahah under its RM10.0 billion Sukuk Murabahah Programme on July 25. The Senior Sukuk Murabahah is rated AA3/stable by RAM Ratings Services Bhd and carries a competitive profit rate of 3.85 per cent per annum for a seven-year tenure, it said. 'The proceeds will be used to finance Bank Islam's banking activities, working capital requirements and other corporate purposes. The utilisation of the funds will be in accordance with Shariah principles,' it added. Bank Islam is the principal adviser, lead arranger, lead manager, and Shariah adviser for the Sukuk Murabahah Programme.
