Islamic Finance

The Royal Award for Islamic Finance 2018 to be conferred on 3 October 2018

Kuala Lumpur, 6 August 2018 -- Bank Negara Malaysia and the Securities Commission Malaysia are pleased to announce that the Royal Award for Islamic Finance 2018 will be conferred at a special ceremony to be held on 3 October 2018 in Kuala Lumpur.

The Royal Award recognises and honours an Islamic finance visionary whose achievements and innovation contribute significantly to the growth of Islamic finance, global economy and social progress of communities around the world. A global call for nominations was made in January 2018, following which 53 submissions were received for 30 candidates, the highest ever since the biennial award was introduced in 2010.

Tun Musa Hitam, Chairman of the World Islamic Economic Forum (WIEF) Foundation, continues to head the seven-member jury which comprises outstanding Islamic finance scholars and industry leaders:

- Tan Sri Zarinah Anwar, Chairman of Malaysia Debt Ventures Berhad;

- Dato’ Ahmad Tajudin bin Abdul Rahman, Member of Shariah Advisory Council of the Securities Commission Malaysia;

- Mushtak Parker, Editor of Islamic Banker;

- Mulya Effendi Siregar, President Commissioner of PT Bank Mandiri Syariah;

- Hamed Hassan Merah, Chief Executive Officer of the Saudi Center for Commercial Arbitration; and

- Emeritus Professor Rodney Wilson, Former Adjunct Professor, International Centre of Education in Islamic Finance (INCEIF)

“This year sees a particularly exceptional pool of candidates for the Jury to consider. The pool of candidates is geographically diverse and covers a wide spectrum of stakeholder groups in Islamic finance, including Shariah, academia, market practitioners, research institutions, government agencies and multilateral organisations. It is this inspiring and exceptional leadership seen from all corners of the world that is key to further advancing the world of Islamic finance forward”, said Tun Musa Hitam.

The Jury applies a rigorous selection criteria to assess an individual’s exceptional contribution towards Islamic finance globally. These include driving policy development, developing and growing the market, advocating for Islamic finance, pioneering innovation, expanding the frontiers of knowledge, and exercising exceptional leadership and influence.

Past Royal Award recipients are Professor Datuk Dr Rifaat Ahmed Abdel Karim, former CEO of the International Islamic Liquidity Management Corporation (2016); Dato’ Dr Abdul Halim Ismail, founding member of Malaysia’s first Islamic bank (2014); Mr Iqbal Khan, CEO of Fajr Capital (2012); and Shaikh Saleh Abdullah Kamel, founder of the Dallah al Baraka Group (2010). The Royal Award in 2010 also recognised the late Dr Ahmad El-Naggar who was often referred  to  as  ‘Father  of  Modern  Islamic  Banking’, with a posthumous honourable mention.


Members of the Media may contact the Media Team at 03-26988044 ext. 7773 (Roziah Mohd. Hanifa),

03-26988044 ext. 8843 (Nurhaizi Anis Ahmad), 03-26988044 ext. 8491 (Mohd Nazrul Hafizi Md Jaffar) or

fax: 03-26943724



About Malaysia's Islamic Finance Marketplace

Since its introduction more than 30 years ago, Islamic finance in Malaysia has developed into a comprehensive and sophisticated Islamic finance marketplace. The marketplace is characterised by a robust regulatory, supervisory, Shariah and legal framework, a deep primary market and active secondary sukuk market, diverse players and talent base with global capabilities and connectivity for business deals anywhere in the world, product innovation, breadth and depth and an efficient system for multi-currency clearing and settlement. Malaysia's Islamic finance marketplace is open to global industry players and market participants to collaborate with and mutually benefit from a highly conducive business environment of innovation, expertise and deal flow.

Our marketplace is a comprehensive Islamic finance ecosystem and business environment of infrastructure, innovation, expertise and deal flow, served by the Malaysia International Islamic Financial Centre (MIFC) Community, comprising the financial institutions, professional firms, regulators and government agencies.

For more information on Malaysia's Islamic finance marketplace, please visit, follow us @MalaysiaIF and download the MYIF app at Apple App Store and Google Play.

About Bank Negara Malaysia

Bank Negara Malaysia (the Central Bank of Malaysia), is a statutory body mandated to promote monetary and financial stability aimed at providing a conducive environment for the sustainable growth of the Malaysian economy. The Central Bank’s functions include supervising the financial institutions and overseeing the nation’s payment systems infrastructure.

Visit for more information.

About Securities Commission Malaysia

The Securities Commission Malaysia (SC), a statutory body reporting to the Minister of Finance, was established under the Securities Commission Act 1993. It is the sole regulatory agency for the regulation and development of capital markets. The SC has direct responsibility for supervising and monitoring the activities of market institutions, including the exchanges and clearing houses, and regulating all persons licensed under the Capital Markets and Services Act 2007. More information about the SC is available on its website at Follow the SC on twitter at @SecComMy for more updates.


Central bank
RAIF 2018