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Under the new IFSA 2013, Shariah Advisor is now liable for Criminal liabilities as well as Civil liabilities.  Shariah Advisor is now criminally responsible for fraud, criminal breach of trust, criminal negligence as well as in civil suits if their Fatwas that comes in form of resolution is done to defraud innocent ignorance Muslims/public at large. Dr Syed Iskandar has been talking, presenting papers nationally and internationally on this  same issue since 1992, a year before Interest Free Banking/Skim Perbankan Tanpa Faedah was introduced in Malaysia. Dr Syed Iskandar collectively wrote  and co-present Islamic Finance papers with Prof Dr Mahmood M Sanusi, a law professor in Brunei. He co wrote article with the learned Professor in one Shariah Law Journal and spoke at Arab Asian Financial Summit broadcasted in CNBC Arabia. He presented papers at the 2nd World Riba Conference. Dr Syed Iskandar was interviewed by Kuwait News Agency at the Islamic Finance News Conference held at Kuala Lumpur Convention Centre and regularly participated at Shariah Expert Scholars Meeting organized by Bank Negara Malaysia where what he said on the Criminal liability of Shariah Advisor last year was reported in the daily bulletin published by the Bank Negara. He was interviewed by the Malaysian Business magazine full page on the Legal Aspects of Islamic Finance May issue 2009 and appeared on Biz World TV3 speaking about Crucial Issues in Islamic Finance  in 2010.

Islamic Financial Services Act 2013

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