Saturday, October 19

SC, OCIS host Islamic finance roundtable

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KUCHING: The Securities Commission Malaysia (SC) and the Oxford Centre for Islamic Studies (OCIS) co-hosted the 5th Roundtable on Islamic Finance in Kuala Lumpur on Saturday.

The roundtable was organised to discuss the development of waqf, an Islamic endowment, and how it can contribute towards broadening the Islamic finance industry globally.

Themed’ Harnessing Waqf Into a Bankable Social Financing and Investment Asset Class’, the annual roundtable was attended by leading industry practitioners and scholars from around the world.

Meanwhile, the SC said the two-day roundtable, held from March 22 to 23, seeks to discuss challenges and potential of waqf in the philanthropic spheres, including issues of legislation, governance and professionalism, and capital.

The capital market regulator said waqf has historically been an important instrument for development in Muslim societies and currently there is a renewed interest to revive waqf institutions and unleash the potential value of Islamic social assets such as waqf.

The SC added global effort to harness Waqf into a bankable social financing and investment asset class is also in line with the SC’s strategy to identify new growth segments to further internationalise Malaysia leading position in Islamic finance industry.