Perak Ruler Sultan Nazrin Muizzuddin Shah is of the opinion that many may not fully appreciate the “enormous” responsibility of syariah advisers in giving their endorsements.

In his speech at the launch of the book 'Shariah Minds in Islamic Finance' by syariah adviser Mohd Daud Bakar, the Perak sultan pointed out how a feature unique to Islamic finance is the sacred trust placed on institutions to comply with Islamic principles.

“Therefore, every endorsement by syariah advisers is an assurance to the public that the institution in question is acting in accordance with religious tenets," he said.

Malaysia and Morocco are linked in Islamic culture and history. The earliest linkage between our nations can probably be traced back to Ibn-Battuta landing in Malacca during his voyage in 1325. In modern times, our countries enjoy well-established diplomatic and economic relations, and it is my hope that this business mission will pave the way for stronger ties between our two countries. In particular, I hope it will foster closer collaboration in Islamic finance, which is also known as participative finance here in Morocco.

Morocco, located at the confluence between the Atlantic Ocean and the Mediterranean Sea, is well-placed as a gateway for trade and investment not just in Africa, but also in Europe and the Middle East. Likewise, Malaysia, being at the heart of Asean, is strategically located to access markets in the Asia Pacific — an advantage that Malaysia has leveraged upon to develop itself as a well-developed Islamic finance hub over the last three decades. There is no doubt that greater connectivity between our Islamic financial centres would enhance both our countries’ capacity and capability to deliver services, products and value beyond the reach of each country.