Kuala lumpur: The Securities Commission Malaysia (SC) has signed a memorandum of understanding (MoU) with Durham University to strengthen cooperation in capacity building, knowledge sharing, and joint initiatives in Islamic finance and Islamic capital market (ICM). In a statement today, the SC said the inaugural ICM Summer School is one of the collaborations under this MoU, jointly organised with the Durham Centre for Islamic Economics and Finance, Durham University Business School.
According to BERNAMA News Agency, SC chairman Datuk Mohammad Faiz Azmi emphasized that the ICM Summer School represents a significant step in developing visionary leaders for the Islamic finance sector. This initiative is driven by a shared commitment to advance capacity and thought leadership across the industry, targeting a range of participants from practitioners to seasoned scholars.
Faiz highlighted that by embedding Maqasid al-Shariah principles, the aim is to build an ethical, sustainable, and innovative capital market. The partnership with Durham University is designed to equip professionals to bolster Malaysia’s global leadership in Islamic finance. The SC’s strategy envisions Maqasid al-Shariah as a key differentiator, fostering innovation and collaboration among regulatory bodies and Islamic industry players worldwide.
Additionally, Mohammad Faiz noted that this initiative aligns with the values outlined in the Maqasid al-Shariah Islamic Capital Market Guidance introduced by the SC in 2023. The ICM Summer School programme is scheduled to run from 2025 to 2027, with annual cohorts. The inaugural group of 15 participants will begin a month-long hybrid programme in the third quarter of 2025.
The SC further detailed that the advanced executive programme is tailored for mid- to senior-level professionals and leaders in the Islamic finance industry, requiring a minimum of five years’ relevant working experience. After completing intensive online modules, participants will attend a five-day masterclass at Durham University and will receive joint certification from the SC and Durham University upon successful completion.
The curriculum will address key areas such as Sukuk, Islamic equities, Shariah-compliant products, fintech, sustainability, regulatory frameworks, and product innovation. A central focus will be on applying Maqasid Al-Shariah principles to promote ethical, inclusive, and sustainable practices within the Islamic capital market and finance sector.