Insights into Securities Commission Malaysia’s Maqasid Al-Shariah Guidance

Islamic Capital Markets

27
Feb 2024

9:00 am - 5:00 pm

Securities Commission Malaysia

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Speakers : Wong Shou Ning (Moderator) | Shahariah Shaharudin | Faridq Ridzuan | Ahmed Firas | Dr. Shamsiah Mohamad | Munirah Khairuddin | Umar Munshi

Registration closing date is 3 business days before the programme date or when all seats are fully taken. The listed price is intended for Malaysian participants only. If you are a non-Malaysian, we kindly request you to reach out to Mr. Nor Effendi Othman at EffendiO@sidc.com.my for further information.
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10 CPE

MYR 1220 *Fee is not inclusive of 8% SST

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HRD Corp Registered Course/Programme No.: 10001375515

Insights into Securities Commission Malaysia's Maqasid Al-Shariah Guidance

On 30th October 2023, the Securities Commission Malaysia (SC) introduced the principles-based Maqasid Al-Shariah Guidance for Islamic Capital Market Malaysia, a fundamental developmental effort to further promote a strong and resilient industry. The principles-based Maqasid Al-Shariah guides decision-making beyond the pursuit of financial gain, ensuring that investments contribute positively to the broader community. Maqasid Al-Shariah fosters a sense of social responsibility among investors, directing their actions toward the preservation of religion, life, lineage, intellect, and wealth. This holistic approach not only aligns investments with moral imperatives but also positions them as a force for positive change and sustainable development.

Moreover, Maqasid Al-Shariah holds particular importance for Muslim investors by aligning financial decisions with Islamic values. It establishes a principled framework that safeguards against prohibited elements and unethical practices, resonating with the teachings of the Quran and Hadith. By integrating Maqasid Al-Shariah into value investing, individuals uphold their religious beliefs while contributing to the creation of a financial ecosystem that adheres to the ethical principles of Islam.

Programme Objective

This programme aims to equip participants with an understanding of the Maqasid Al-Shariah, enabling its practical application towards value investing that transcends profit-driven motives and embraces a holistic approach for the betterment of individuals and society.

 

Mode

Face-To-Face

 

Target Audience

Individual 

Board Members, Directors, Business Leaders, Islamic Capital Market Practitioners, Shariah Advisors, Research Analysts, Fund Managers, Risk Managers, Compliance Officers, Sustainability and ESG Advocates

Institutions 

Capital Market Intermediaries, PLCs, Regulators, Academia and Investors who are keen to learn on how Maqasid Al-Shariah principles are applied to investment context.

 

Learning Outcomes

Upon completion of this  programme, the participants will be able to:

  • Explain the core principles of value investing and its significance towards long-term financial stability and resilience.
  • Recognise the importance of Maqasid Al-Shariah in investment context in adhering to the highest ethical standards based on core Shariah principles, in sustaining the trust and confidence of its stakeholders.
  • Recognise where Maqasid Al-Shariah may complement or reinforce Environmental, Social, and Governance (ESG) criteria, as well as its enhancement of Sustainable and Responsible Investment (SRI) strategies in identifying opportunities, evaluating challenges, and proposing ethical investment strategies guided by Islamic principles.
  • Apply the practical implementation of integrating Maqasid Al-Shariah into value investing in ensuring that financial decisions are not only lucrative but also ethical, morally sound, and aligned with the higher objectives of Islamic law.

Competencies

  1. Foundational (Regulatory) – Islamic Capital Market Regulations (Proficiency Level 3)
  2. Foundational (Product) – Islamic Capital Market Products (Proficiency Level 3)
  3. Behavioural (Self-Management) – Adaptability (Proficiency Level 3)
9.00 am The Building Blocks of Value Investing

  • Historical overview, core principles, and key features of value investing
  • Future trends and opportunities
  • Significance of ethical investment in modern finance
  • Establishing ethical screening criteria: A systematic approach
  • Navigating the current ethical challenges

Panellists:

  • Shahariah Shaharudin, President, Saturna Sdn Bhd
  • Faridq Ridzuan, CFA, Vice President, CFA Society Malaysia
10.45 am Coffee Break
11.00 am Pillars of Purpose: Understanding the Essence of Maqasid Al-Shariah

  • Ultimate objectives and necessities of Maqasid Al-Shariah
  • Aspirations and principles of the Maqasid Al-Shariah: An integration of classical and modern insights for ICM landscape

Integrating Maqasid Al-Shariah into Value Investing

  • Aligning your investment goals with Maqasid Al-Shariah
  • Ethical considerations in portfolio construction

Discussions: How Maqasid Al-Shariah principles complement, supplement and support SRI and other investment-based taxonomies

Panellist:

  • Ahmed Firas, Country Head of Shariah, HSBC Amanah Malaysia
  • Dr. Shamsiah Mohamad, Shariah Supervisory Council Member, Bank Islam Malaysia Berhad
12.30 pm Lunch Break
2.00 pm Navigating Challenges in Implementing Maqasid Al-Shariah in Investments

  • Ethical dilemmas, decision-making and balancing profitability
  • Regulatory compliance and standards

Case Discussion: Successful investment models and challenges faced in adhering to Maqasid Al-Shariah

Impact Investing and Socially Responsible Investments

  • Exploring impactful investments in line with Maqasid Al-Shariah
  • Socially responsible investing as an extension of Maqasid Al-Shariah principles

Speaker: Ahmed Firas, Country Head of Shariah, HSBC Amanah Malaysia

3.30 pm Tea Break
3.45 pm Charting the Future: Empowering Investors through Ethical Investment

  • Technological advancements in Islamic finance for investors
  • Opportunities and challenges in the evolving investment landscape
  • Empowering investors to make ethical and Shariah-compliant investment

Panellist:

  • Munirah Khairuddin, Country Head and Chief Executive Officer, Malaysia / Non-Independent Executive Director, Principal Asset Management Berhad
  • Umar Munshi, Co-Founder & Managing Director, Ethis Malaysia
5.00 pm End of Programme

About the Speaker

Wong Shou Ning (Moderator)

Radio Presenter & Producer

Shahariah Shaharudin

President, Saturna Sdn Bhd

Faridq Ridzuan

CFA, Vice President, CFA Society Malaysia

Ahmed Firas

Country Head of Shariah, HSBC Amanah Malaysia

Dr. Shamsiah Mohamad

Shariah Supervisory Council Member, , Bank Islam Malaysia

Munirah Khairuddin

Country Head and Chief Executive Officer, Malaysia / Head of Global Islamic Business / Managing Director, Strategic Distribution & Institutional Clients, Southeast Asia, Principal Asset Management Berhad

Umar Munshi

Co-Founder & Managing Director, Ethis Malaysia

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*The SIDC reserves the right to amend the programme as deemed appropriate without prior notice

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