KUCHING: Bank Negara Malaysia (BNM) and the financial institutions in the country have provided sufficient advisors and experts to ensure the implementation of the Islamic financial system is in accordance with shariah rules.
Federal Territories Mufti, Datuk Dr Zulkifli Mohamad Al Bakri, said the advisors and experts in the industry are the indicators that determine the rights that comply with Shariah rules.
“The advisors and experts are constantly updating the latest information, exchanging information to ensure the implementation of Islamic financial system in Malaysia is to a better, mature and perfect,” he said.
He said this during a discussion session entitled: Why We Need to Choose Islamic Finance held in conjunction with the BNM Financial Carnival here on Sunday.
Themed ‘Prioritize Your Financial Needs’, a three-day carnival beginning November 24, 2017, was held at the CityONE Exhibition Center here.
Zulkifli Mohamad, who is also a member of the Shariah Advisory Council of BNM, emphasized that Islamic finance must comply with three conditions, namely, adhering to Shariah rules, in relation to values that can help and capitalize on large societies and promote justice.
“For example, the waqf system introduced among Malaysian banks such as waqf education and medical waqf has provided a clear benefit to the public,” he said.
– BERNAMA [:]