Khamis, 26 Februari 2009

Finally Malaysian Securities Commission says ASB & ASN Syariah Non-compliance

Here is more readable version:

En Mohd Hafiz Hj. Fauzi
Secretary Shariah Committee
Bank Muamalat Malaysia BerhadTingkat 4,
Menara Bumiputra
Jalan Melaka
50100 Kuala Lumpur
12 February 2009

Tuan,
AMANAH SAHAMBUMIPUTERA AND AMANAH SAHAM NASIONAL (ASB AND ASN SCHEMES)

Your letter dated 12 November 2008 is referred.We wish to inform that the Shariah Advisory Council (SAC) of Securities Commission (SC) has taken note of the permissibility (harus) fatwa endorsed by Jawatankuasa Fatwa Majlis Kebangsaan Bagi Hal Ehwal Ugama Islam Malaysia of the investment schemes of ASB and ASN.Notwithstanding the above, the SAC of SC has made a decision that the above ASB and ASN schemes do not comply with the SC Guidelines on Islamic Unit Trust Fund.
Thank you.
Your sincerely
SURUHANJAYA SEKURITI
MOHD RADZUAN BIN AHMAD TAJUDIN
Head Islamic Capital Market Department

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