Shariah Governance
Member of Shariah Committee
Prof. Dr. Ashraf Md Hashim
Chairman of the Shariah Committee
Prof. Dr Ashraf Bin Md Hashim is the Chief Executive Officer of ISRA Consultancy. He is also a Senior Researcher at International Research Academy for Islamic Finance (ISRA) and a Professor at International Centre of Education in Islamic Finance (INCEIF).
Dr Ashraf currently sits on the Central Bank of Malaysia's Shariah Advisory Council (SAC BNM) as Deputy Chairman and the Securities Commission of Malaysia’s Shariah Advisory Council (SAC SC). He is also a member of Shari’ah Committee for International Islamic Liquidity Management Cooperation (IILM) and the Chairman of Shariah Committee of Bursa Malaysia (Malaysia Exchange House). In addition, he also serves as member of National Fatwa Council of Malaysia, a registered Shariah adviser of Security Commission, advising a few REIT companies particularly in Singapore. He is also a member of Shariah Committee for Tabung Haji (Pilgrimage Fund) and Association of Islamic Banking Association Malaysia (AIBIM). He is actively involved in many consultation works related to Islamic finance in Malaysia and abroad, among others the Islamic Bank of Australia (Project) and Noor Takaful Nigeria (Chairman of Advisory Council of Experts). Recently, he has also been appointed as Chairman for Panel of Experts in Muamalat Matters under the Islamic Development Division, Prime Minister Department Malaysia.
Dr Ashraf obtained his PhD (Islamic Law) from University of Birmingham, United Kingdom. His Masters in Fiqh and Usul Fiqh from University of Jordan and his BA in Shariah from Islamic University in Medina, Saudi Arabia. He is also a holder of Postgraduate Diploma in Shariah Law and Practice (DSLP) from International Islamic University Malaysia.
Prof. Dr. Younes Soualhi
Member of the Shariah Committee
Prof. Dr. Younes Soualhi is currently a Senior Researcher at the International Shariah Research Academy for Islamic Finance (ISRA) and a Professor at the Global University if Islamic Finance (INCEIF). He is also the head of Islamic banking Unit at ISRA. He was the former Deputy Dean of the IIUM Institute of Islamic Banking and Finance (IIiBF) and a former Lecturer in the Department of Fiqh and Usul al-Fiqh, IIUM having more than 22 years of teaching experience.
He is a member of the Shari’ah Committe of HSBC Amanah Malaysia, the chairman of the Shari’ah board of Munich Re Takaful, the Shariah advisor for Kuwait Retakaful (Malaysia), a member of the Takaful committee (Malaysia Financial Planning Council-MFPC), as well as a founding member of the French Council of Islamic Finance (Coffis), Paris. He is also a member of Shariah advisory council of Adegreen (Dubai) and Salihin Bhd.
He is registered financial planner (RFP), a certificate awarded by the Malaysian Financial planning council (MFPC). He published many articles and Books in pure Shari’ah-related issues and in Islamic Banking and Finance. He is actively involved in Islamic Banking and Finance as a lecturer, researcher, trainer and consultant. He got his B.A in Shari’ah from Emir Abdulqadir University for Islamic Sciences in Algeria ,and his M.A&P.HD from IIUM and UM respectively. He also holds a Diploma in Human Sciences.
Prof. Dr. Engku Rabiah Adawiah Engku Ali
Member of the Shariah Committee
Prof. Dr. Engku Rabiah Adawiah is a Professor at IIUM Institute of Islamic Banking and Finance (IIiBF), International Islamic University Malaysia (IIUM). She obtained her LLB (first class honors), LLB (Shariah) (first class honors) and Masters of Comparative Laws (MCL) from the IIUM. In 1998, she was conferred with PhD in law from the University of Aberdeen, United Kingdom. Currently she teaches post-graduate students at IIiBF. Her research interest is in Islamic capital market, Islamic banking and finance, Islamic insurance or takaful and Islamic law of transaction. Her publications include books, articles in local and international journals and periodicals; and chapters in books and proceedings. She has presented in various conferences, seminars, workshops and in-house trainings on Islamic Banking, Finance and Capital Market. She had also served as a member of Shariah Committee to many financial institutions in the past. Currently, she is a member of the Syariah Advisory Council of Bank Negara Malaysia (Central Bank of Malaysia), Securities Commission Malaysia, Labuan Financial Services Authority (Labuan FSA), Employees Provident Fund (EPF) and an independent Shariah Advisor for Islamic securities (sukuk) issuance, approved by and registered with the Malaysian Securities Commission. In addition, she is a member of the Shariah Board of Labuan Re and Gen Re. She is also a member of the Shariah Board to Khazanah in relation to four of its exchangeable sukuk, a member of Majlis Agama Islam Wilayah Persekutuan (MAIWP), a board member of AWQAF Holdings and a council member of Khadijah International Waqf Foundation (L).
In recognizance of her works and contributions to Islamic Finance, she has been twice awarded with the Most Outstanding Individual Contribution to Islamic Finance by Deloitte in 2004 and again in 2014 in Kuala Lumpur Islamic Finance Forum (KLIFF 2014). Being the pioneer lady Shariah scholar in Islamic finance, locally and globally, she has also been listed numerous times in the list of influential women in Islamic finance, including: Top 10 Women in Islamic Finance (2014 and 2017); Top 20 Women in Islamic Finance (2017); and Top 10 Most Influential Women in Finance (2017), where she was ranked No. 4. She has been ranked twice as 3rd Most Influential Women in Islamic Finance 2018 and 2019 during the WOMANi Gala Dinner and Awards Ceremony by Cambridge IF Analytica Limited; and 2nd Most Influential Women in Islamic Finance 2020 and 2021.