Islamic Capital Market products were broadened and Shariah governance had been strengthened, said the Securities Commission (SC) during the Annual Report 2022 media conference.
To further affirm their commitment towards a more robust Islamic capital market, the SC has consolidated Islamic capital market-related guidelines into the Guidelines on Islamic Capital Market Products and Services, which enables efficient access to the Islamic capital market ecosystem.
Some of the items being expanded were the Waqf Featured-Funds Framework to further broaden the spectrum of innovative Islamic Capital Market products. Access to new innovative Shariah equity crowdfunding and peer-to-peer operators and solutions was widened too.
The SC added that the requirements for Islamic Fund Management business had been revised to increase clarity on Shariah Governance.
According to the SC, it has also provided thought leadership and international profiling. This effort among others has resulted in the SC being conferred the sixth Royal Award for Islamic Finance in recognition of outstanding contributions globally.
Adding to this is the SC’s discourse on Islamic finance and sustainability through the SC-UNDP Islamic Finance Conference. Last but not least, the SC had advanced the Islamic capital market through leadership via the annual SC-Oxford Centre for Islamic Studies roundtable.
