KUALA LUMPUR: The Securities Commission (SC) is planning to launch guidance on principle-based Maqasid al-Syariah before the year-end.

       Chairman Datuk Seri Dr Awang Adek Hussin said through the guide, investors will be able to invest not only in syariah-compliant products but also in those aligned with Maqasid-al-Syariah (the objective or purpose behind Islamic rulings).

       He said Malaysia is a long-established global leader in Islamic finance, with its innovative and pioneering regulatory interventions and frameworks.

       “We must leverage our thought leadership, push the boundaries and continue broadening the spectrum of traditional and alternative products.

       “This means enabling products and outcomes that are not only syariah-compliant but aligned to the broader principles of Maqasid al-Syariah, to meet the growing demand for Islamic products of a higher order,” he said in his keynote address at the Capital Market Research Malaysia-Securities Industry Development Corp inaugural Capital Markets Industry-University Talent Bridging Conference here yesterday.

       Awang Adek also said Malaysia must also increase its environmental, social and governance (ESG) products and sustainability financing to attract investors that prioritise ESG. — Bernama