The Securities Commission Malaysia (“
SC”) on 26 May 2025 launched the 40 Hadiths book series on sustainability and ethical sales transactions to promote greater understanding of the Islamic perspective on sustainability and Islamic ethics in commercial transactions.
The books
1, which were launched during the 3
rd SC Nadwah of Shariah Advisers in Islamic capital market (“
ICM”) (“
SC Nadwah”) aims to enhance industry awareness and encourage practical implementation of the principles of Maqasid al-Shariah
2 Guidance (“
Guidance”) in ICM, specifically in areas such as environmental stewardship, responsible business and trade practices.
The SC Chairman Datuk Mohammad Faiz Azmi said internalising the Guidance encapsulated in these
hadiths contributes to the development of a just, inclusive and sustainable economy and that the SC is committed to making Maqasid al-Syariah a fundamental framework for business dealings in ICM. According to Datuk Faiz, “
The outcomes that we are witnessing today is one of the approaches towards ensuring Islamic financial products and services are designed and implemented in a way that promotes the welfare of society and the environment”.
The SC also announced the establishment of the Maqasid al-Syariah Task Force for ICM
3 (“
MaTF”), which will drive and coordinate adoption of the Guidance across the Malaysian ICM and identify areas for strategic collaboration and innovation between regulatory bodies and industry players.
Established in 2023, the SC Nadwah serves as a convening platform for intellectual discourse on applied Shariah knowledge sharing and charting the next wave of innovative syariah solutions among syariah advisers and market practitioners
4.
The two 40 Hadiths books that were launched at the SC Nadwah are available for download at
https://www.sc.com.my/resources/publications-and-research.
Alert by Hafidah Aman Hashim (Partner) and Sharifah Shafika Alsagoff (Partner) of the Islamic Finance Practice of Skrine.
1 The 40 Hadiths on Sustainability and 40 Hadiths on Ethical Sales Transactions
2 Maqasid al-Shariah – studies the application of Islamic law in a more holistic and multidimensional form to achieve social and economic justice as well as enhancing the welfare of the community.
3 Members of the MaTF include Bursa Malaysia Berhad, Malaysian Association of Asset Managers, the Federation of Investment Managers Malaysia, the Malaysian Investment Banking Association, the Association of Islamic Banking and Financial Institutions Malaysia, the Islamic Banking and Finance Institute Malaysia, and the International Council of Islamic Finance Educators.
4 This year’s SC Nadwah was attended by over 200 stakeholders from the Shariah advisory ecosystem including policy makers, government agencies, academia, Shariah advisers, State Islamic Religious Councils, State Mufti Departments and Islamic finance practitioners.