The MSRI model integrates Maqasid al-Syariah with ESG principles to enhance responsible investing in Malaysia.
BANGI: The Maqasid al-Syariah in Responsible Investment (MSRI) model developed by Permodalan Nasional Bhd (PNB) will strengthen syariah compliance in investments, said Minister in the Prime Minister’s Department (Religious Affairs) Dr Zulkifli Hasan.
He said the model marks a significant advancement in the country’s Islamic finance landscape by integrating the principles of Maqasid al-Syariah with the Environmental, Social and Governance (ESG) framework.
“Through this approach, every ringgit invested is assessed not only in terms of its financial returns, but also for its contribution to environmental sustainability, social well-being and integrity in governance. This is the essence of Maqasid al-Syariah in investment.
“I believe this initiative is fully aligned with the concept of Maqasid al-Syariah as expounded by Imam al-Shatibi in his seminal work, al-Muwafaqat, which emphasises that the objective of syariah is to realise public interest (maslahah) and prevent harm (mafsadah) in human life,” he said when launching the MSRI model and zakat khultah here today.
He said the integration of Maqasid al-Syariah with ESG principles reflects a broader philosophy of development.
He added that the approach promotes economic development that places human well-being at its core, while recognising the importance of sustainable economic growth and halal profits.
“It reminds me of the Human Economy concept introduced by Prime Minister Datuk Seri Anwar Ibrahim in his book, The Asian Renaissance.
“I therefore see the model launched today as a practical manifestation of that concept.
“It demonstrates that Islamic investment is no longer evaluated solely on the basis of syariah compliance, but also on its impact on people, society and the environment,” he said.
Meanwhile, Zulkifli said he supports the implementation of zakat khultah as it offers practical benefits to investors while remaining fully aligned with syariah principles.
“Muslim investors in Amanah Saham Nasional Bhd (ASNB) continue to enjoy competitive net returns, while ensuring their zakat obligations are managed systematically and efficiently without compromising their long-term investment objectives.
“I greatly appreciate ASNB’s initiative and hope the Muslim community in this country will make full use of this facility wisely and build blessed wealth for the well-being of their families, society and future generations,” he said.
He said the government welcomes the role of PNB and ASNB as catalysts in strengthening an Islamic finance ecosystem that balances financial performance with values, responsibility and the well-being of the Muslim community in Malaysia.
