Mr. Arun Boonchom, President of the Islamic Affairs Committee, said “the Sheikhul Islam Office is aware of its responsibility towards the Muslim community in all aspects, especially the economic aspect related to Halal and Haram. Many Muslims have asked the Sheikhul Islam Office about trading of shares on the Stock Exchange and digital currencies or cryptocurrencies. The Shekhul Islam Office provided answers to those questions. However, it was in a limited circle. This seminar, held jointly by the Sheikhul Islam Office and the SEC, would make the knowledge about shares and trading of shares more widely available.”

Ms. Ruenvadee Suwanmongkol, SEC Secretary-General, said, “the SEC realizes the importance of development of Islamic financial markets and mutual funds in Thailand to ensure they are with correct standards in alignment with the religion’s principles and are internationally accepted. In Thailand, an Islamic fund was first established in 2004 and currently there are six Islamic mutual funds, with the net asset value of Baht 2.145 billion and with 6,526 investors, while there are approximately four million Muslims in Thailand. Therefore, Islamic financial products still have a lot of room to grow. The SEC is revising the regulations on establishment of Islamic mutual funds, in accordance with the resolution passed at the Capital Market Advisory Board’s Meeting No. 2/2023, held on 21 February 2023, to create confidence among Islamic investors that investing in Islamic mutual funds is consistent with the principles of Islam and is an alternative for savings. Investment in Islamic RMFs or SSFs also come with tax benefits.”

At the seminar, a lecture on the topic of “Investment Under Islamic Principles in the Thai Capital Market” was given by Mr. Isares Mahamad, Sheikhul Islam Office representative, and a talk on “Experience in Developing Islamic Financial Products,” was given by Mr. Noraizat Shik Ahmad, Deputy Director of the Islamic Capital Market Development, Securities Commission Malaysia, and a talk on the topic of “Investment in Islamic Mutual Funds Under SEC’s Oversight” was also held and joined by Ms. Charuphan Intararoong, SEC Assistant Secretary-General, Mr. Thanachote Rungsitivat, President of MFC Asset Management Public Company Limited, and Dr. Smeet Esore, Sheikhul Islam Office representative, who shared their opinions on investment in Islamic mutual funds, with Mr. Anusorn Ongart, Sheikhul Islam Office’s representative, as moderator.

The seminar on “Islamic Investors’ Investment Opportunities in Islamic Mutual Funds” was held at Al Meroz Hotel, Bangkok, and was attended by over 150 interested persons and was broadcast live on the Facebook pages of the SEC and the Sheikhul Islam Office. Interested persons may view the recorded seminar session on https://www.facebook.com/sec.or.th/videos/1212843656270063 

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