KUALA LUMPUR: The Securities Commission Malaysia (SC) and Ibn Haldun University (IHU) of Turkiye formed a strategic partnership to promote Maqasid al-Shariah-aligned ethical finance globally.
The partnership was formalised through the signing of a MoU by SC chairman Datuk Mohammad Faiz Azmi and IHU president Professor Dr Atilla Arkan, with Bilal Erdogan, deputy chairman of the board of trustees of IHU, in attendance.
The signing took place on the sidelines of the 3rd Global Islamic Economy Summit in Istanbul.
This summit is organised by AlBaraka Forum, an independent, non-profit global think tank specialising in Islamic economics.
Under the MoU, the SC and IHU have established a global partnership to strengthen thought leadership on Maqasid al-Shariah principles within the Islamic capital market (ICM) ecosystem.
This tie-up will help strengthen Malaysia’s global position as the leader in Islamic finance.
In Malaysia, ICM accounts for 64% of Malaysia’s overall capital market, which grew 3.2% to US$1.1 trillion (RM4.3 trillion) in 2025.
Mohammad Faiz said the collaboration with IHU marks a significant milestone in SC’s efforts to champion Maqasid-aligned ethical finance on the global stage.
“It combines regulatory foresight with academic rigour to advance a financial ecosystem that prioritises shared prosperity, sustainability and ethical integrity,” he said.
He said key outcomes planned from this strategic partnership, amongst others, include the establishment of a joint taskforce to oversee collaborative initiatives, the annual delivery of a global roundtable on ethical finance anchored on Maqasid al-Shariah and the publication of an annual joint report.
Professor Dr Atilla Arkan said the partnership with the SC will create new opportunities for intellectual exchange, particularly in global thought leadership anchored in Maqasid-aligned ethical finance, while strengthening ties between Malaysia and Türkiye.
The MoU also advances Malaysia’s Capital Market Masterplan 2026–2030 (Masterplan) vision of strengthening the country’s leadership in Islamic finance through enhanced capacity building, research and cross-border collaboration between regulators and academia.
The Masterplan, which is anchored on four outcome themes – Vibrancy, Inclusivity, Sustainability and Regional Opportunities, further advocates utilising the principles of Maqasid al-Shariah as the ethical compass.
The MoU supports the SC’s broader internationalisation efforts, aimed at reinforcing Malaysia’s standing as a global destination for Islamic and ethical finance.
SC has held engagements with key stakeholders in Türkiye, including representatives from Islamic finance sectors and regulatory and supervisory bodies.