The Shariah Adviser for Pacific Mutual’s Shariah-compliant funds is BIMB Securities Sdn Bhd (BSSB). BSSB, a stockbroking subsidiary of BIMB Holdings Bhd, was incorporated on 21 February 1994. It was set up to pioneer the development of the Islamic financial system in the capital market. Its mission is to offer facilities and services in the securities industry which are in compliance with Shariah to the Muslims and Non-Muslims in Malaysia and elsewhere. The company strives to enhance its efforts in contributing to the success of the nation’s target to become a regional and international centre of Islamic finance. BSSB has been offering Shariah services to its clients and it was registered with the Securities Commission to act as a Shariah adviser for Shariah-compliant collective investment schemes since 1998. As at 19 October 2016, there are 23 Shariah-compliant funds under its supervision.
Profile Of Designated Shariah Officer:
Ir. Dr. Muhamad Fuad bin Abdullah (Dr. Muhamad Fuad), the designated person-in-charge of all Shariah matters in BIMB Securities Sdn Bhd (BIMBSEC) is also appointed to the Shariah Advisory Committee of BIMBSEC effective 1 June 2011. He graduated with a Bachelor of Science in Electrical Engineering in 1977 and a Master of Philosophy in Electrical Engineering in 1982 from the University of Southampton. He also obtained a Bachelor of Arts (Jayyid) in Shariah from the University of Jordan in 1994 and a Doctor of Philosophy in Muslim Civilization from the University of Aberdeen, Scotland in 1996.
Currently, he serves as Chairman of the Shariah Committee of MIDF Group of Companies and a member of the Group Shariah Committee of MNRB Holdings Bhd. He is currently a registered Shariah Adviser with the Securities Commission Malaysia (SC). He is also a registered Shariah lawyer of Majlis Agama Islam Perak, and an Adjunct Professor of Universiti Teknikal Malaysia Melaka (UTeM).
He sits on the boards of MIDF Property Berhad, Mesiniaga Berhad and Institut Kefahaman Islam Malaysia (IKIM) a public company limited by guarantee. Dr Muhamad Fuad was appointed to the Board of Universiti Sains Islam Malaysia (USIM) on 1 April 2016.
Dr. Muhamad Fuad is the designated person-in-charge of Pacific Mutual’s Shariah-compliant funds.