Effective April 2024, companies seeking listing on Bursa Malaysia Securities Berhad (Bursa Malaysia) are no longer required to submit applications to the Shariah Advisory Council SC (SAC) should they wish for their securities to be classified as Shariah compliant. Instead, the securities of companies seeking listing on the Main Market, ACE Market and LEAP Market of Bursa Malaysia will be reviewed by the SAC for the purpose of determining their Shariah status. This Shariah compliance review by the SAC will provide clarity and certainty to investors on the Shariah status of such securities prior to listing on Bursa Malaysia and thus, enhancing investor confidence to invest in Shariah-compliant securities.
The Shariah status of the securities will be updated on SC’s website upon approval of the listing application by the SC or Bursa Malaysia.
