Prominent Islamic finance figure Mohd Daud Bakar, two others charged over unlicensed trading

Former Bank Negara Malaysia Syariah Advisory Council chairman Tan Sri Mohd Daud Bakar was charged in the Sessions Court today with abetting unlicensed securities trading activities involving a corporate entity.

Mohd Daud, a prominent figure in Islamic finance, pleaded not guilty after the charge was read before judge Norma Ismail today.

According to the charge sheet, Mohd Daud, acting as a representative of Energy Eco Bhd, abetted AUF MBZ Consortium PLT in trading securities without a valid Capital Markets Services Licence.

The offence allegedly took place in Rawang between June 14, 2021 and Aug 9, 2023.
He was charged under subsection 58(1) of the Capital Markets and Services Act 2007, read together with paragraph 370(c) and subsection 367(1) of the same Act.

The offence carries a fine of up to RM10 million, imprisonment of up to 10 years, or both, upon conviction.

Read more at:
https://www.nst.com.my/news/nation/2026/02/1383415/updated-prominent-islamic-finance-figure-mohd-daud-bakar-two-others
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