DHAKA, Oct 26, 2025 (BSS) - Bangladesh Securities and Exchange Commission (BSEC) has formed a nine-member Shari’ah Advisory Council to develop the Islamic Capital Market in Bangladesh.

Formation of this council, which takes immediate effect, is considered necessary for the proper issuance of Islamic Shari’ah-based securities and the protection of investors' interests in such securities in line with Islamic Shari’ah, said a BSEC press release issued today.

The council is structured to include five members selected from the Shari’ah Scholars and four members chosen from different industry experts.

The five shari’ah scholars are - Professor Dr Nakib Muhammad Nasrallah, Vice Chancellor of the Islamic University of Bangladesh in Khustia; Professor Dr Mohammad Monzur-E-Elahi, Professor of Islamic Studies of the National University in Gazipur;  Mufti Masum Billah, Senior Mufti and Muhaddis, Jamia Islamia Darul Ulum, Mirpur; Mufti Abdullah Masum, Senior Deputy Mufti, Jami'ah Shari'yyah Malibagh and Dr. Md. Ruhul Amin, Assistant Professor, Department of Islamic Studies, Manarat International University.

The four industry experts are - Professor Dr. Mohammad Kabir Hassan, Department of Economics and Finance, University of New Orleans, USA; Barrister Omar Sadat, Senior Advocate, Supreme Court of Bangladesh; A. K. M. Majedur Rahman, CEO, Bangladesh International Arbitration Centre and Mohammad Abdur Rahim, Chief Finance Officer, Islami Bank Bangladesh Limited.