Amanah Capital Group CEO, Abbas A Jalil, took part in the Islamic Finance Conference in December 2020, the event was held by the Iranian Association of Islamic Finance. As a part of this webinar's agenda, the topic of “Good Governance and its Impact on Financial Markets” was discussed.
Amanah Capital Group Limited (ACGL), headquartered in Malaysia, functions mainly as a vehicle to grow the family office’s businesses. It has also completed significant consulting, corporate advisory and due diligence services for SOEs, GLCs, private corporations, local institutions as well as public listed companies in South East Asia, CIS countries and the Middle East.
ACGL’s business interests cover real estate, construction, pharmaceuticals, FMCG and commodities.
The presentation core content was ethical aspects of Islamic finance in which he pointed out to the recent global phenomenon, Covid-19. The unprecedented situation hit both Islamic and conventional financial markets in the same way which raised the question of risk sharing form in the Sharia perspective.
The CEO stated that corona didn’t only affect small and medium enterprises but also, it affected global Sukuks due to the inability of borrowers to make payments; The matter that ought to be discussed by Sharia scholars at least from risk sharing point of view.

But what Malaysia has done for this issue?
As the speaker explained, the combination of measures had been adopted by government and Central Bank. For example, loan moratorium on banks had been announced to salvage borrowers, namely for six months all the borrowers may opt not to repay their loans.
“We believe that ethical aspects should be observed in good corporate governance” said Jalil emphasizing social issues in good governance not to be neglected in the shadow of transparency and other criteria, since the basic principle of Islam, as he sees, is the fairness of everything.
Another related issue is the easy way to raise funds according to Islamic finance ,so responsible authorities should look at the intention of the Islamic products because they have been observed literally but some entities may try to do some maneuver to make people unsure whether this thing is really fair, Islamic, ethical Sharia complaint or not.
In conclusion, Jalil stated that  we have to make sure that Islamic finance is fairer and better than the conventional finance, in order to achieve this goal governments may need to exercise their enforcement powers in critical situations like a global pandemic.