Bank Negara Malaysia, the Malaysian Central Bank, has named new members of the Shariah Advisory Council who will be on board for three years starting 1 November 2013.
[tag|Bank Negara Malaysia|]Bank Negara Malaysia[/tag], the Malaysian Central Bank, has named new members of the Shariah Advisory Council who will be on board for three years starting 1 November 2013.
The new members are Tun Abdul Hamid Mohamad, former chief justice of the Federal Court, Malaysia, Tan Sri Sheikh Ghazali Abdul Rahman, Shariah legal advisor, attorney general chamber, Dato Seri Haji Hassan Jahi Ahman, Mufti of Penang, Dr Mohd Daud Bakar, chief executive of Armanie Advisors and Prof Dr Engku Rabiah Adawiah Engku Ali, professor, International Islamic University of Malaysia.
Also part of the team are Prof Dr Ashraf Md Hashim, CEO of ISRA Consultancy Deparment, Prof Madya Dr Mohamad Akram Laldin, executive director of International Shariah Research Academy for Islamic Finance, Prof Madya Dr Rusni Hassan, associate professor at the IIUM, Prof Madya Dr Asmadi Mohamed Naim, dean of Islamic Business School at Universiti Utara Malaysia, Dr Shamsiah Mohamad, senior researcher of International Shariah Research Academy for Islamic Finance, and En. Burhanuddin Lukman, lecturer at IIUM.
The Shariah Advisory Council was established in 1997 as the highest Shariah authority in Islamic finance in the country. The agency has the authority to implement and check compliance to Islamic law for the purposes of Islamic banking business, takaful (insurance) business, Islamic financial business, development financial business and others.