Kuala lumpur: The Malaysia Gold Association (MGA) has taken a significant step by appointing its inaugural Shariah Advisory Board (SAB), aiming to provide robust Shariah governance and build greater confidence in the nation’s gold industry.

According to BERNAMA News Agency, the newly established board will serve as an independent body of experts, offering Shariah leadership to MGA, its members, and the broader gold sector. The board’s primary role is to ensure Shariah compliance in trading and investment activities related to gold and other precious metals.

MGA stated in a release that this move underscores its commitment to setting clear guidelines for Shariah-compliant practices in the industry. Datuk Louis Ng, the president of MGA, highlighted that the board’s creation is a crucial step in enhancing Malaysia’s position in Shariah-compliant precious metals trading. He emphasized that this strategic initiative would bolster the nation’s status as a central hub for Islamic finance and Shariah-compliant gold trading.

By integrating Shariah oversight into the industry, MGA is establishing new compliance standards and fostering trust among investors and consumers, particularly within the global Muslim community. The founding members of the MGA Shariah Advisory Board include Datuk Prof Dr Mohamad Akram Laldin as chairman, with Khairun Najmi Saripudin and Zikri Shairy as board members. Prof Mohamad Akram, a professor at INCEIF University, is recognized as an authority in Shariah for Islamic finance. Khairun Najmi brings extensive experience in Shariah and Islamic finance regulatory development, while Zikri is experienced in Shariah risk management and advisory within Islamic banking and finance.

For more information, interested parties are encouraged to contact the MGA secretariat via email at [email protected] or visit their website at www.mga.my.