Ref: SECURITIES COMMISSION DECREES ASN AND ASB SCHEMES NON-SHARIAH COMPLIANT
Assalamualaikum wrt wbt and Salam Sejahtera,
The above matter refers. Kindly take note that the Shariah Advisory Council of Securities Commission has decided that the above-mentioned schemes do not comply with the Securities Commission Guidelines on Islamic Unit Trust Fund. Therefore, pursuant to the said decision, our internal Shariah Committee hereby advise the Bank not to offer any financing for Muslims, that relates to the ASB and ASN schemes purposes. While for non-Muslims, Shariah Committee decision remains unchanged. Attached herewith is the letter from Securities Commission dated 12 February 2009.
This decision will be circularized to all staff in due course.
Allah swt knows the best and wassalam.
Hafiz Hj. Fauzi
Bank Muamalat Malaysia Berhad
Tingkat 4, Menara Bumiputera
50100 KUALA LUMPUR