Islamic Financial Institutions and Shariah Scholars Play Vital Role in Malaysia’s COVID-19 Recovery Efforts: Religious Affairs Minister

Datuk Seri Dr Zulkifli Mohamad Al-Bakri, Minister of Religious Affairs in Malaysia, recently highlighted the important role of Islamic Financial Institutions (IFIs) and Shariah scholars in COVID-19 recovery efforts in Malaysia. Speaking at the launch of the 14th Shariah Islamic Financial Advisors Muzakarah held in tandem with the 16th Kuala Lumpur Islamic Finance Forum, Zulkifli also addressed the growing popularity of Islamic Social Finance and emphasised the need for its development, similar to how the Islamic financial system and Islamic banking have been developed.

Why it matters?

Operating on the basis of Shariah objectives, which emphasise the well-being of the religion, life, mind, lineage and property, all players in the Islamic finance industr...