The Shariah Advisory Council of Bank Negara Malaysia (the SAC) 135th Meeting

The Shariah Advisory Council of Bank Negara Malaysia (the SAC), in its 135th meeting dated 28 May 2013, has discussed the following Shariah issues:

1. Shariah Parameters on Gold and Silver Investment in Islamic Financial Products

In ensuring a clear banking practices with regards to gold and silver investment, the SAC discussed on Shariah parameters on gold and silver investment which include the aspects of contracting parties, subject of the contract , offer and acceptance and delivery.

2. Draft of Shariah Standard on Musyarakah

For purpose of finalizing contents on Shariah Standard on Musharakah, SAC has discussed takyif fiqhi (fiqh adaptation) for musyarakah mutanaqisah by focusing on core elements of shirkah al-milk and syirkah al-`aqd. 

This article is also available in Arabic version