The government will review the need to establish a comprehensive act to curb the abuse of the term 'syariah-compliant' that can clearly mislead the public, Deputy Minister in the Prime Minister's Department Ashraf Wajdi Dusuki said today.

He said, at present, the term had been widely used by players in foreign exchange and gold trading industry, as well as by loansharks, because there was no specific law to curb it.

"This is among the constraints that we faced...right now, we only have the Islamic Financial Services Act 2013 and the Securities Commission of Malaysia Act 1993 for syariah issues relating to banking and capital markets.

"We still don't have a comprehensive act which regulates the use of the term 'syariah-compliant'...and which will enable use to rush, raid, and take legal action against anyone found to have abused the term for their own benefit," he said

Ashraf said this to reporters after opening the 11th conference of syariah advisory council for financial institutions in Kuala Lumpur.

Apart from that, Ashraf also said the government would also review the need to take action against 'fake mufti', or those who issue fake edicts to 'legalise' the use of the term 'syariah-compliant' to achieve their agenda.

- Bernama