Islamic Capital Market Has Potential to Widen Reach to Broader Stakeholder Economy: SC Malaysia

According to Datuk Syed Zaid Albar, Chairman of the Securities Commission of Malaysia (SC), the Islamic capital market (ICM) still has "tremendous potential" to widen its reach to the broader stakeholder economy via sustainable initiatives.

Why it Matters?

Albar noted that with growing desires to invest responsibly, efforts will be made to improve investor access to Shariah-compliant businesses that practise environmental, social and corporate governance (ESG). This aims to urge firms and other key stakeholders to evaluate their impact on society and the environment while making business decisions, thereby elevating Shariah-compliant companies' socially responsible and ethical standards. Guidance is deemed is to be needed to incorporate Shariah requiremen...