Shariah Supervisory Council
The Shariah Supervisory Council (SSC) was set up in 2002 to review and ensure the compatibility of proposed financial instruments with Shariah requirements. It also advises Labuan FSA on the development of Islamic jurisprudence principles. The SSC members comprise renowned International and Malaysian Islamic finance scholars. The members are appointed by the Authority.
The members of SSC:
The members of SSC:
Professor, The International Centre for Education in Islamic Finance University (INCEIF), Malaysia
Honorary Professor, IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
International Shariah Scholar
Associate Professor, IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
International Islamic Finance Professional
Datuk Professor Dr. Mohamad Akram Laldin (Chairman)
Professor, The International Centre for Education in Islamic Finance University (INCEIF), Malaysia
Datuk Professor Dr. Mohamad Akram Laldin is a prominent academic currently serving as a Professor at INCEIF University. Possessing a wealth of experience in Islamic banking and finance, he previously held the pivotal role of Executive Director at the International Shariah Research Academy for Islamic Finance (ISRA).
Renowned for his expertise in Islamic jurisprudence, Datuk Prof. Akram is a sought-after Shariah advisor to numerous domestic and international financial institutions, including Bank Negara Malaysia, the Employees Provident Fund, Lembaga Tabung Haji, Dubai Islamic Bank, Yassar Limited and many more.
Datuk Prof. Akram holds a PhD in Principles of Islamic Jurisprudence (Usul al-Fiqh) from the University of Edinburgh, Scotland, and a Bachelor of Arts (Hons) in Islamic Jurisprudence and Legislation from the University of Jordan, Amman, Jordan.
Renowned for his expertise in Islamic jurisprudence, Datuk Prof. Akram is a sought-after Shariah advisor to numerous domestic and international financial institutions, including Bank Negara Malaysia, the Employees Provident Fund, Lembaga Tabung Haji, Dubai Islamic Bank, Yassar Limited and many more.
Datuk Prof. Akram holds a PhD in Principles of Islamic Jurisprudence (Usul al-Fiqh) from the University of Edinburgh, Scotland, and a Bachelor of Arts (Hons) in Islamic Jurisprudence and Legislation from the University of Jordan, Amman, Jordan.
Professor Dr. Engku Rabiah Adawiah Engku Ali (Deputy Chairman)
Honorary Professor, IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
Professor Dr. Engku Rabiah Adawiah is a distinguished academic and among the leading authority in Islamic finance. She holds an Honorary Professorship at the IIUM Institute of Islamic Banking and Finance and is a two-time recipient of the prestigious Most Outstanding Individual Contribution award from Deloitte, bestowed upon her in 2004 and 2014 at the Kuala Lumpur Islamic Finance Forum (KLIFF) for her exceptional contributions to the field.
Prof. Engku Rabiah serves as Shariah advisor to key institutions in Malaysia's Islamic finance landscape, including Bank Negara Malaysia, Securities Commission Malaysia, the Employees Provident Fund, Bursa Malaysia, and Labuan Re. She also served on the Shariah Boards of several Khazanah exchangeable sukuks and has previously held positions on the Shariah committees of numerous financial institutions.
She earned her LLB (First Class Honours) and LLB (Shariah) (First Class Honours) from International Islamic University Malaysia (IIUM), followed by a Master of Comparative Laws (MCL) from the same institution. She later obtained a PhD in Law from the University of Aberdeen, UK.
Prof. Engku Rabiah serves as Shariah advisor to key institutions in Malaysia's Islamic finance landscape, including Bank Negara Malaysia, Securities Commission Malaysia, the Employees Provident Fund, Bursa Malaysia, and Labuan Re. She also served on the Shariah Boards of several Khazanah exchangeable sukuks and has previously held positions on the Shariah committees of numerous financial institutions.
She earned her LLB (First Class Honours) and LLB (Shariah) (First Class Honours) from International Islamic University Malaysia (IIUM), followed by a Master of Comparative Laws (MCL) from the same institution. She later obtained a PhD in Law from the University of Aberdeen, UK.
Sheikh Professor Dr. Mohamed Ali Elgari
International Shariah Scholar
Sheikh Professor Dr. Mohamed Ali Elgari is a former professor of Islamic Economics and Director of the Centre for Research in Islamic Economics at King Abdulaziz University. As a recognized Shariah expert, he held influential positions at the Islamic Jurisprudence Academy of the Organisation of the Islamic Conference (OIC) and the Islamic World League.
Sheikh Elgari served on the Shariah Board of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and was a member of numerous Shariah boards for Islamic banks and takaful companies worldwide, holding over 60 such positions.
He has contributed significantly to the field of Islamic finance through his books, articles, and conference presentations. His exceptional work was recognized with the Islamic Development Bank prize in Islamic banking and finance in 2004.
Sheikh Elgari served on the Shariah Board of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and was a member of numerous Shariah boards for Islamic banks and takaful companies worldwide, holding over 60 such positions.
He has contributed significantly to the field of Islamic finance through his books, articles, and conference presentations. His exceptional work was recognized with the Islamic Development Bank prize in Islamic banking and finance in 2004.
Associate Professor Dr. Syed Musa Syed Jaafar Alhabshi
Associate Professor, IIUM Institute of Islamic Banking and Finance (IIiBF) International Islamic University Malaysia
Associate Professor Dr. Syed Musa Syed Jaafar Alhabshi is a well-known academic and professional in the field of Islamic banking and finance. He is a former Dean of the IIUM Institute of Islamic Banking and Finance, with over three decades of experience in teaching, research, and consultancy.
Dr. Syed Musa has served as an independent Non-Executive Director at several takaful and retakaful companies. Internationally, he has been a member of the Accounting and Auditing Standards Board of AAOIFI in Bahrain, contributing to the development of reporting, auditing, and governance standards for Islamic financial institutions. He also consults for the Islamic Financial Services Board (IFSB) and has contributed to the IFSB BASEL Pillar III framework for the Islamic financial services industry.
He holds a Bachelor of Business Administration (Honours) from IIUM and a Doctor of Business Administration (Accounting and Finance) from Strathclyde University, UK.
Dr. Syed Musa has served as an independent Non-Executive Director at several takaful and retakaful companies. Internationally, he has been a member of the Accounting and Auditing Standards Board of AAOIFI in Bahrain, contributing to the development of reporting, auditing, and governance standards for Islamic financial institutions. He also consults for the Islamic Financial Services Board (IFSB) and has contributed to the IFSB BASEL Pillar III framework for the Islamic financial services industry.
He holds a Bachelor of Business Administration (Honours) from IIUM and a Doctor of Business Administration (Accounting and Finance) from Strathclyde University, UK.
Razi Shafeek Fakih
International Islamic Finance Professional
Mr Razi Shafeek Fakih is a seasoned professional and international icon in Islamic banking, with over three decades of experience. He is the Founder and Director of Waseeya Holdings Ltd, a UK-based Legal-Tech company providing estate planning services, and True Ilm Ltd, an Edu-Tech company offering online Islamic education materials.
Mr Fakih has held senior positions within the HSBC Group, including Deputy CEO of HSBC Amanah, where he was responsible for the global performance of HSBC Amanah. He also served as Deputy CEO at Bank Al Bilad in Saudi Arabia.
He is an Associate Member of the Institute of Chartered Accountants of India and holds a Bachelor of Commerce degree from the University of Bombay.
Mr Fakih has held senior positions within the HSBC Group, including Deputy CEO of HSBC Amanah, where he was responsible for the global performance of HSBC Amanah. He also served as Deputy CEO at Bank Al Bilad in Saudi Arabia.
He is an Associate Member of the Institute of Chartered Accountants of India and holds a Bachelor of Commerce degree from the University of Bombay.
