Bank Rakyat Strengthens Regional Cooperation in Islamic Finance Through iSHAR 2026
KUALA LUMPUR: Bank Rakyat continues to strengthen its role as a leading Shariah thought leader in the Islamic finance industry through the International Shariah Scholars Roundtable (iSHAR) 2026, organised in strategic collaboration with the Association of Shariah Advisors in Islamic Finance (ASAS).
Now in its sixth edition, iSHAR 2026 is being held as a Regional Edition, focusing on Shariah, governance and operational issues of common interest to countries across the region.
The initiative aims to strengthen cross-border cooperation, promote the sharing of experiences and best practices, and explore comprehensive solutions to emerging challenges in the Islamic finance landscape.
In his welcoming remarks, Bank Rakyat Chairman Datuk Mohd Irwan Mohd Mubarak said research and the development of Shariah knowledge are fundamental to the advancement of the industry.
“We need research that is grounded in operational realities, innovation that preserves the objectives of Shariah, and human capital capable of connecting an understanding of Islamic jurisprudence with current economic needs,” he said.
He added that the expertise of a single institution alone was insufficient to address challenges that cross jurisdictions and markets, stressing the importance of strategic cooperation among financial institutions, regulators, fatwa institutions, academia and industry experts.
The official opening of iSHAR 2026 was officiated by Minister in the Prime Minister’s Department (Religious Affairs), Senator Dr Zulkifli Hasan, representing Prime Minister Datuk Seri Anwar Ibrahim.
180 Participants from Across the Region
The two-day conference, held from October 1 to 2, 2026, at the InterContinental Hotel, Kuala Lumpur, brought together approximately 180 participants, including 43 prominent Shariah scholars and experts in Islamic finance.
Participants included representatives from Bank Negara Malaysia (BNM), the Shariah Advisory Council of Bank Negara Malaysia (SAC BNM), the Securities Commission Malaysia (SC), the Shariah Advisory Council of the Securities Commission (SAC SC), Islamic financial institutions and academic institutions.
The regional participation also included Shariah scholars and Islamic finance experts from Brunei Darussalam, Indonesia, Singapore and Thailand.
Through structured roundtable discussions, iSHAR 2026 provided a strategic platform for sharing knowledge, perspectives and experiences while developing practical solutions to current challenges facing the Islamic finance industry.
Among the key topics discussed were the framework and application of Al-Ijarah Thumma Al-Bay’ (AITAB); Shariah non-compliance issues involving Tawarruq, Ijarah, Musharakah and Mudharabah contracts; the application of sales involving intangible rights (Mawsuf fi al-Dhimmah); cash waqf structures in Islamic banking; and Shariah and operational issues related to Ar-Rahnu practices.
The findings and resolutions from the conference are expected to contribute to strengthening Shariah governance, harmonising Shariah practices, and supporting the development of policies, guidelines and best practices for the regional Islamic finance industry.
At the same time, iSHAR 2026 is expected to strengthen professional networks among financial institutions, regulators, fatwa institutions and academic bodies in developing more effective, relevant and practical Shariah solutions.
The organisation of iSHAR 2026 also reflects Bank Rakyat’s continued commitment to promoting research, innovation and strategic collaboration in Shariah, in line with its LEAD30 aspiration to strengthen the bank’s position as an Islamic financial institution driving the development of Shariah knowledge, research and innovation.
Through the platform, Bank Rakyat aims to contribute to a stronger, more inclusive, progressive and sustainable Islamic finance ecosystem while enhancing the industry’s competitiveness at both regional and international levels.