Malaysia’s capital market regulator has issued guidelines to simplify the registration of religious experts who advise on Islamic financial products and services. Under the rules which take effect today, syariah advisers who meet the eligibility and appointment criteria stated in the guidelines can advise on all Islamic products regulated by the Securities Commission, the regulator said in a statement.
Previously, syariah advisers had to fulfil the eligibility and appointment criteria contained in the individual rules relating to Islamic products such as unit trust funds, the Securities Commission said. The Registration of Syariah Advisers guidelines apply to local and foreign religious experts, the Securities Commission said. The full guidelines are on the Securities Commission’s website at http://www.sc.com.my. — Reuters
With Dr. Nagaoka Shinsuke, Kyoto University.