Roles And Reponsibilities Of Shariah Advisors In Malaysia
From HodHood
Contents
Top 20 FREQUENT WORDS
shariah 106 islamic 54 icm 38 fatwa 26 advisers 22 issues 20 ijtihad 18 role 18 adviser 17 institutions 17 securities 17 fiqh 13 knowledge 13 islam 12 products 12 ensure 11 financial 11 commission 9 development 9 legal 9 matters 9 related 9 requirements 9
DOCUMENT KEY POINTS
- the emergence of a distinct icm is part of the outcome of a revival of interest to develop an islamic economic system and an increasing demand from muslims on a national and international scale for products and modes of investment that comply with shariah
- roles and responsibilities of shariah advisers in malaysian islamic capital market an epigrammatic discourse by mohamad nabil mohamad shukri preamble it should be recognised from the outset that the islamic capital market icm is an anchor component of the overall financial market in malaysia
- in particular as an illustrative discourse the paper will skim over some of the projected role of the shariah advisers within the context of the sc s guidelines on the offering of islamic securities and guidelines on unit trust fund
- a ali ibn a abbas al hakami usul al fatwa wa tatbiq alahkam al syar iyyah fi bilad ghayr al muslimin
- the various sources of shariah that feature next to the quran and the sunnah are all manifestations of ijtihad such as ijma qiyas istihsan istishab masalih mursalah sadd al zara i and are all inter related not only under the main heading of ijtihad but also within the interpretation of the quran and the sunnah
- its very historicity however ie the manner and the context in which its content was actualized makes for its continued relevance to the historical situation per se ie
- the purpose of this is to safeguard society from deviance protect the faith and ensure the welfare of the people in both religious and worldly manners according to the law of allah
- connotes the state institution to promote what is proper and forbid what is improper al amr bi al ma ruf wa al nahy a an al munkar
- ask those who recall if you know not al qur an and if they had referred it to the messenger and to those of authority among them then those of them whose task it is to find it out would have known the matter al qur an in which the phrase those of them whose task it is to find it out expresses the words alladhina yastanbitunahu minhum referring to those possessing the capacity to draw inferences directly from the evidence which in arabic is called istinbat
- a quick check with the guidelines on islamic securities issued by the sc reveals that the shariah adviser s role is to advise on all aspects of islamic securities including documentation structuring investment as well as other administrative and operational matters and to ensure compliance with applicable shariah principles and relevant resolutions on top of the rulings made by the sac from time to time
- d deliberate on shariah issues pertaining to the day to day operations of the institutions and provide advice accordingly in the day to day operations of these institutions there are various shariah issues that the practitioners will come across particularly those with regard to the practice and implementation of financial transactions
- g assist related parties on shariah matters and provide advice upon request the related parties of the institutions in the icm such as their legal counsels auditors and consultants may seek advice on shariah matters from the shariah advisers who are expected to provide the necessary assistance so that full compliance with shariah principles can be assured
- the dissemination process must be continuous to train as many practitioners as possible so as to provide lines of successors who are well trained prior to succeeding their superiors
- with this in mind we must take all the correct steps and measures to chart the overall progress and to nurture more shariah advisers while preparing the right framework for them to contribute towards the development of the icm together with the market practitioners as well as the regulators
- our quest to develop a dynamic islamic financial system would definitely be stunted should we fail to recognise the importance of the shariah s advisory role
Please note, This is an auto generated summary based on sentances position in the document and other factors
DOCUMENT WORD ANALYSIS
Main Category
- AlHuda Material\islamic economics
KeyWords
allah prophet islam ibn muslim quran shari surah arab muhammad sunnah pbuh meaning NA rulebased opinion source evidence legislated dar
RELATED DOCUMENTS
- Arab Islamic Banking and Revewal of Islamic Law
- Philosophy-of-Islamic-Shariah
- Roles And Reponsibilities Of Shariah Advisors In Malaysia
DOCUMENT REFERENCES
Number of Pages
11
Published Date
2106-02-07 09:28:15
