KUALA LUMPUR: Malaysia, as an established Islamic capital market (ICM) leader, is well placed to showcase the benefits of bringing together environmental, social and governance (ESG) and syariah.

       Securities Commission (SC) chairman Datuk Syed Zaid Albar said ICM could play a crucial role in helping people to recover from the pandemic and provide avenues to achieve the United Nations (UN) Sustainable Development Goals (SDGs).

       This is given that ICM accounts for over 60% of Malaysia’s total capital market.

       “Both Islamic finance and sustainable and responsible investment share positive principles and values such as social responsibility, inclusiveness, equitable sharing of risks and shared societal benefits, among others.

       “This clearly demonstrates ICM products and instruments as a natural fit to support the SDGs, and of course the overall sustainability,” he said.

       He was speaking virtually at the SC-UNDP International Islamic Finance Conference, titled Connecting the Dots: Harnessing Islamic Finance to Accelerate SDG Achievements, yesterday. — Bernama