Kuala lumpur: The Maqasid al-Syariah in Responsible Investment (MSRI) model developed by Permodalan Nasional Bhd (PNB) is set to enhance syariah compliance in the investment sector, according to Minister in the Prime Minister's Department (Religious Affairs) Dr Zulkifli Hasan. He highlighted that this development signifies a notable progression in Malaysia's Islamic finance sector, effectively merging Maqasid al-Syariah principles with the Environmental, Social, and Governance (ESG) framework.

According to BERNAMA News Agency, Dr Zulkifli explained that the model ensures that every invested ringgit is evaluated not only for financial gain but also for its environmental, social, and governance contributions. This approach embodies the essence of Maqasid al-Syariah in investment, focusing on public interest and harm prevention, as outlined by Imam al-Shatibi in his work, al-Muwafaqat.

Dr Zulkifli noted that combining Maqasid al-Syariah with ESG principles reflects a wider developmental philosophy prioritizing human well-being alongside sustainable economic growth and halal profits. He compared this model to the Human Economy concept introduced by Prime Minister Datuk Seri Anwar Ibrahim in his book, The Asian Renaissance, viewing it as a practical example of that concept. The model demonstrates that Islamic investment is now assessed not only for syariah compliance but also for its societal and environmental impact.

He also expressed support for the implementation of zakat khultah, which provides practical benefits to investors while adhering to syariah principles. He commended Amanah Saham Nasional Bhd (ASNB) for enabling Muslim investors to achieve competitive returns while managing zakat obligations systematically, aligning with long-term investment goals.

Dr Zulkifli emphasized the government's appreciation for the roles of PNB and ASNB in fostering an Islamic finance ecosystem that balances financial performance with values and responsibility, benefiting Malaysia's Muslim community.