BANGI — Permodalan Nasional Berhad (PNB) today launched the Maqasid Al-Shariah Screening Model for Responsible Investment (MSRI), an investment screening approach that integrates the Maqasid al-Shariah framework with Environmental, Social and Governance (ESG) principles.
The launch ceremony was officiated by the Minister in the Prime Minister’s Department (Religious Affairs), Senator Dr. Zulkifli Hasan. Also in attendance were Raja Tan Sri Arshad Raja Tun Uda, Chairman of PNB Group, Datuk Rizal Rickman Ramli, President and Group Chief Executive of PNB, Datuk Dr. Sirajuddin Suhaimee, Director-General of JAKIM, and Fadzihan Abbas Mohamed Ramlee, Chief Executive Officer of Amanah Saham Nasional Berhad (ASNB).
The MSRI screening model is used as part of the investment analysis and decision-making process for PNB’s domestic investment portfolio. It aims to broaden the scope of Shariah screening beyond financial assessments and business activities alone.
The model evaluates investments based on the five dimensions of Maqasid al-Shariah introduced by Imam al-Ghazali, while comprehensively integrating ESG considerations into investment analysis. It also incorporates controversy and bonus scores to assess current issues that reflect both the negative impacts and positive initiatives undertaken by companies.
Arshad Raja said, “Today’s launch is the result of close collaboration between PNB and the Department of Islamic Development Malaysia (JAKIM).”
“This strategic partnership is clear evidence that national investment institutions and religious institutions can work hand in hand to develop an economic ecosystem that is not only financially sustainable, but also firmly grounded in values and ethics,” he said in his welcoming remarks at the Wacana Literasi Kewangan Islam Berteraskan Maqasid Al-Syariah in conjunction with the launch of MSRI and Zakat Khultah held in Bangi today.
At the same event, ASNB launched the Khultah (collective) method of Zakat al-Mustaghallat payment, a facility for Muslim investors in ASNB’s fixed- price unit trust funds to fulfil their annual zakat obligations more conveniently.
Dr. Zulkifli said that the facility enables ASNB investors to perform their zakat obligations in a simpler and more systematic manner.
“Muslim investors who invest in ASNB unit trust funds are encouraged to fully utilise this Khultah (collective) method of Zakat al-Mustaghallat payment to fulfil their annual zakat obligations.”
“I support the implementation of zakat through the Khultah approach because, from the investor’s perspective, its benefits are highly practical and aligned with Shariah principles. Muslim ASNB investors continue to enjoy competitive net returns while ensuring that their zakat obligations are managed systematically and efficiently, without compromising their long-term investment objectives,” he added.
The Zakat Khultah method was introduced by ASNB on 25 May 2026 for all fixed-price funds, which have been restructured into Class A and Class B units. Existing unitholders are automatically placed in Class A, while Class B is designated for Muslim unitholders who choose to have their zakat managed by ASNB through the Khultah (collective) mechanism.
Under Class B, zakat is calculated at 2.57 per cent of dividends received before distribution to unitholders, ensuring that the dividends received are net of zakat and Shariah-purified. This zakat method applies the al-Mustaghallat methodology, which was approved by the National Council for Islamic Religious Affairs Malaysia (MKI) in September 2025.
As of 16 July 2026, a total of 131,121 accounts by Muslim investors in ASNB unit trust funds had opted into Class B.
The launching ceremony also featured a forum titled “Managing Wealth with Purpose”, with panelists comprising Fadzihan Abbas, Datuk Syeikh Zakaria Othman, Chief Executive Officer of the Kedah State Zakat Board (LZNK), and Ustaz Zul Ramli M. Razali, Independent Speaker and Preacher.
In line with the concept of “balancing deen and dunya”, ASNB has also introduced a suite of investment-related services known as Islamic Wealth Solutions. Through this offering, investors no longer need to make separate decisions regarding investments, protection, zakat, hibah, and waqf.
Instead, these elements are integrated into a single, structured financial journey guided by Shariah principles.
This suite of solutions is designed to fulfil the true objectives of wealth management, recognising that wealth is not solely about how much is accumulated, but also about how effectively it is utilised for the benefit of oneself, one’s family, society, and religion. —PNB
