Press Release: INDUSTRY EXPERTS TO SHARE EXPERTISE AT KL CONFERENCE ON ISLAMIC WEALTH MANAGEMENT & FINANCIAL PLANNING 2014

Monday 10/03/2014

KUALA LUMPUR, March 10 (Bernama) -- Industry experts are set to share their wide spectrum of expertise at the upcoming Kuala Lumpur Conference on  Islamic  Wealth Management & Financial Planning 2014.

The conference will be held at the Grand Seasons Kuala Lumpur on 18-19 March 2014 (from 9 a.m to 5 p.m). The two-day conference is organized by Kuala Lumpur-based Alfalah Consulting, an international consulting and training provider specialized in the areas of Islamic finance, Islamic wealth management, business & management and professional development.

The conference would explore key principles and avenues of Islamic wealth management, including Islamic wealth creation, accumulation, protection, distribution and purification in the wealth management cycle.

It enables individuals, investors and corporations to learn and understand better about Islamic wealth management and financial planning from industry experts with a wide spectrum of expertise.

The conference will be an excellent platform to gain knowledge, know-how, networking and exchange of experience, ideas, performance and potential on the industry and services.

Among key focus are Islamic fund management, Islamic investment, sharing the wealth using exchange instruments, risk management & takaful, Islamic estate planning, retirement planning, tax and zakat planning.

Among the speakers are Jamaluddin Nor Mohamad, Director, Islamic & Alternative Market, Bursa Malaysia Berhad who will be speaking on the topic, “Sharing the Wealth Using Exchange Instruments”, Ahmad Sanusi Husain, a certified Islamic financial planner on “Islamic Wealth Management & Financial Planning: Principles, Products and Services”,  Ahmad Fushari Ahmad Shafiei, Manager, Marketing Management Department, Amanah Raya Berhad on “Islamic Estate Planning: Islamic Wills, Hibah, Faraid and Waqf” and several other speakers.

Islamic finance is a 1.5 trillion dollar industry and Kuala Lumpur is a major international hub for Islamic finance. Islamic wealth management is a major segment within the industry.

Bursa Malaysia Berhad is the Gold Sponsor for this conference.

For more details please visit the event web site: www.islamic-wealth-management.net and the organizer’s web site: www.alfalahconsulting.com.

SOURCE : Alfalah Consulting

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Ahmad Sanusi Husain
CEO, Alfalah Consulting
Tel : 603.2168.1879
Mobile : 6019.234.8786


--BERNAMA

Oman: Meethaq in joint bid to promote Islamic banking

Muscat: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Kuwait Finance House, have signed a memorandum of understanding (MoU) that aims at supporting joint business opportunities in the Islamic banking sector. 

This relates to areas of treasury transactions, trade finance and capital markets, especially sukuk and syndications in Oman. In terms of inter-bank facility, the MoU addresses 'Wasi', an overnight liquidity management product launched by KFH-Bahrain.

Sulaiman Al Harthy, group general manager (Meethaq Islamic Banking), and Abdulhakeem Alkhayyat, managing director and chief executive officer of KFH-Bahrain, signed the MoU in Manama. They expressed delight in signing the MoU, which was the culmination of mutual desire to work together in various fields of Islamic banking to develop new opportunities. "The Sultanate is witnessing substantial growth in Islamic banking industry and we consider our partnership with KFH-Bahrain a great advantage to maximise favourable opportunities and thereby expand our coverage. In addition to that, it will support the position of Meethaq Group in the Islamic banking industry," said Al Harthy.

Expanding network

"Meethaq is delighted to sign the MoU with KFH-Bahrain, which is considered to be one of the most reputable Islamic financial institutions. We will work together to offer various Islamic finance products covering treasury, trade finance and capital market in Oman which has a growing Islamic banking industry with sound regulations, laws and transparency. Meethaq is working to strengthen its operations in the Sultanate by expanding the branch network and offering innovative products and services in compliance with the Sharia law," he added.

"We are happy to add Meethaq Islamic banking to our growing list of partners to offer distinctive services and products. KFH-Bahrain is committed to collaborate with Islamic financial institutions as a key facilitator for the development and growth of the industry to meet future requirements," noted Abdulhakeem Alkhayyat.

(Times Of Oman / 26 March 2014)

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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

Bank of England may broaden Islamic liquidity tools

The Bank of England is studying ways to increase the number of sharia-compliant assets that Islamic financial institutions can use in their liquidity buffers, a step towards reducing concentration risks in the sector.

The move comes as part of a broader push to promote London as a top centre for Islamic finance, in the face of growing competition from other centres such as Dubai and Kuala Lumpur.

Currently, sukuk (Islamic bonds) issued by the AAA-rated Islamic Development Bank are the only assets that meet the central bank's criteria for use in the liquidity buffers of the 22 Islamic financial institutions operating in Britain.

These include six full-fledged Islamic banks such as the European Islamic Investment Bank, Bank of Londonand the Middle East and Gatehouse Bank.

In addition to reducing risks, expanding the eligible list could improve growth prospects for the industry and remove a potential entry barrier to the sector, a consultation paper released by the central bank said.

"Recognising only one asset also potentially limits the growth of existing sharia-compliant firms and creates barriers to entry for new sharia-compliant firms due to the difficulties that can be experienced obtaining the asset."

Islamic finance follows religious principles such as bans on interest and pure monetary speculation; this limits the types of financial tools that banks can use to manage their short-term funding needs.

The Bank of England's proposal is in line with the approach of Basel III global banking regulations, which allow sukuk issued by high-rated sovereigns to be included in the liquid assets buffer without a haircut.

This would allow Britain's proposed 200 million pound ($330 million) sovereign sukuk issue to be used, as well as other high-investment grade instruments such as sukuk issued by the Malaysia-based International Islamic Liquidity Management Corp.

Sukuk issued by sovereigns with lower credit ratings and other non-financial issuers could also be eligible, subject to haircuts and caps, the consultation paper said. The consultation will end on April 15 but no date was given for the proposed reform.

Britain first announced plans for a sovereign sukuk issue six years ago but that issue never materialised as the country's Debt Management Office decided the structure was too expensive.

The new proposal is less than a fifth of the size of the original, and is designed to boost London's status rather than to diversify Britain's investor base to a significant degree.

(Arabian Business .Com / 26 March 2014)

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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com