Islamic finance leader Daud Bakar charged with abetting unlicensed trading

Free Malaysia Today

The 62-year-old pleaded not guilty to the charge under Section 58(1) of the Capital Markets and Services Act 2007.  Read More: https://www.freemalaysiatoday.com/category/nation/2026/02/23/islamic-finance-leader-daud-bakar-charged-over-securities-conspiracy  Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2026/02/23/tokoh-kewangan-islam-daud-bakar-didakwa-subahat-niaga-sekuriti-tanpa-lesen  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews

Transcript

00:00Islamic banking figure Dawud Bakar pleaded not guilty in the Kuala Lumpur Sessions Court today

00:06after being charged with abetting unlicensed securities trading activities involving a corporate entity.

00:13Dawud, who previously served as chairman of the Shahriya Advisory Councils at both Bank Negara Malaysia

00:19and Securities Commission Malaysia, entered his plea before Judge Norma Ismail after the charge was read to him.

00:28The 62-year-old was charged under Section 58, Subsection 1 of the Capital Markets and Services Act 2007

00:35which prohibits anyone from carrying out a regulated activity

00:39including dealing in securities without a valid Capital Markets Services License or being a registered person.

00:47According to the chart sheet, Dawud allegedly conspired with AUF MBZ Consortium PLT

00:54and two individuals linked to the entity between June 14 and August 9, 2021.

01:01AUF MBZ was neither a holder of a Capital Markets Services License nor registered to deal in securities.

01:09If convicted, Dawud faces a fine of up to RM10 million, imprisonment of up to 10 years, or both.

01:16The court granted bail of RM50,000 with one surety.

01:20Dawud was also ordered to surrender his passport and report monthly to Securities Commission Malaysia

01:27pending the disposal of the case.

01:29Case management is set for April 10.

01:32Hanyujo, FMT

01:34,

01:34.

01:34The Champagne

01:35.

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