Malaysia Gold Association Establishes Shariah Advisory Board

KUALA LUMPUR, July 9 (Bernama) -- The Malaysia Gold Association (MGA) has recently appointed its first Shariah Advisory Board (SAB), a significant step forward in providing Shariah governance, upholding ethical standards, and fostering greater confidence in Malaysia’s gold industry.

The newly appointed board would function as an independent body of experts, providing Shariah leadership to MGA, its members, and the overall gold industry in matters regarding Shariah governance for the industry as a whole.

“This initiative highlights MGA’s dedication to establishing clear guidelines for Shariah-compliant trading and investment in gold and other precious metals,” it said in a statement.

Its president, Datuk Louis Ng, said the establishment of this board marked a pivotal step in advancing Malaysia’s leadership in Shariah-compliant precious metals trading. 

“As a strategic initiative, it strengthens the nation’s role as a key hub for Islamic finance and Shariah-compliant gold trading. 

“Also, by institutionalising Shariah oversight within the industry, MGA is setting new standards for compliance and building greater trust among investors and consumers, particularly within the global Muslim community,” he said.

Among the founding members of the MGA Shariah Advisory Board are Datuk Prof Dr Mohamad Akram Laldin as chairman of the board, while Khairun Najmi Saripudin and Zikri Shairy are board members.

Mohd Akram is currently a professor at INCEIF University and an eminent authority in Shariah for Islamic finance.

Meanwhile, Khairun Najmi is an established advisor with strong experience in Shariah and Islamic finance regulatory development, and Zikry is a practitioner in Islamic banking and finance with direct experience in Shariah risk management and Shariah advisory.

For further inquiries, contact the MGA secretariat at info@mga.my, or log on to www.mga.my.

-- BERNAMA