MFPC Background

About MFPC

MFPC is an independent body set up with the noble objective of promoting nationwide development and enhancement of the financial planning profession. MFPC provides an evolving set of Best Practice Standards and Code of Ethics that must be adhered to by Registered Financial Planner (RFP) and Shariah RFP designees. This requirement is aimed at ensuring that the public will be served with the highest quality of financial planning services. MFPC was registered on 10th of March, 2004 under the Societies Act, 1996.

In 2014, MFPC received Honourable Commendation in the UNESCO Wen Hui Award for Educational Innovation. The award recognizes MFPC’s contribution on its Financial Planning awareness programs. In Addition, in September 2015, MFPC was named as the Best Islamic Finance Education Provider in the prestigious Global Islamic Financial Awards (GIFA). Subsequently, in June 2016 MFPC received the World Education Congress Global Awards as the Best Educational Institute in Banking and Insurance. It also gives us immense pleasure to inform that the GIFA awards committee decided in favor of the Shariah Registered Financial Planner to receive the Best Islamic Finance Qualification 2016.

Registered Financial Planner (RFP)

The Registered Financial Planner (RFP) programme was launched by the former Governor of Bank Negara Malaysia, Y.Bhg. Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz in November 2002. The RFP designation was approved by Bank Negara Malaysia (BNM) in March 2005 as the prerequisite qualification to apply for the Financial Adviser’s License and Financial Adviser’s Representative License. The Registered Financial Planner (RFP) designation was also approved by the Securities Commission Malaysia (SC) in November 2005 as one of the qualifications to apply for the Investment Advisers’ License under The Securities Industry Act 1983.

The RFP designation has then been duly approved by the SC for the application of the Capital Markets Services License (CMSL) in view of the introduction of the Capital Markets and Services Act 2007.The RFP serves as a mechanism for the MFPC to help fulfill the national objectives of making Malaysia a Centre of Educational Excellence. The RFP signifies the twin pillars of professionalism in financial planning – Professional Education and Practice Excellence. Most importantly, the concept of the RFP is defined by Malaysians who understand our values and needs. As of September 2012 RFP designees are also licensed Private Retirement Scheme (PRS) distributors/consultants. The Federation of Investment Managers Malaysia (FIMM) which regulates PRS consultants grants RFP designees automatic recognition as PRS consultants.

Affiliate RFP

The Affiliate RFP designation was launched by Y.B. Dato’ Mustapa bin Mohamed, Minister of  International Trade and Industry on 6 December 2007. It was introduced in recognition of the commitment and diligent work of the students undertaking the RFP programme. The Affiliate RFP designation is conferred on to Members who have passed Module 1: Fundamentals of Financial Planning and one other module of RFP Programme. The Affiliate RFP serves as a measure to inject a new force of human capital into the industry. Affiliate RFP designees are potential Financial Adviser Representatives and Capital Markets Services License Representatives who will be given the appropriate guidance and opportunities to practice financial planning advisory services.

RFP Programme (7 Modules)

Module 1: Fundamentals of Financial Planning
Module 2: Risk Management & Insurance Planning
Module 3: Investment Planning
Module 4: Zakat & Tax Planning
Module 5: Estate Planning
Module 6: Retirement Planning
Module 7: Applications in Financial Planning

Shariah Registered Financial Planner (Shariah RFP)

In line with the national agenda to make Malaysia an Islamic Financial Centre and to promote advancement in Islamic transactions and businesses, MFPC has developed the Shariah RFP Programme as a practical professional programme for practitioners to equip themselves with Takaful and Islamic financial planning principles and knowledge. Y.B. Dato’ Seri Mohamed Khaled Bin Nordin, Minister of Higher Education launched the Shariah RFP Programme on 21 August 2008. Shariah RFP is a recognised programme by Bank Negara Malaysia and Securities Commission.

Affiliate Shariah RFP
In response to market demand and environment changes locally and internationally; MFPC introduced the “Affiliate Shariah RFP” designation to Members who have passed Module 1: Fundamental of Shariah Financial Planning and one other module of Shariah RFP Programme. The Affiliate Shariah RFP aims to provide a pool of qualified practitioners to venture into the Shariah financial planning profession in Malaysia.

Shariah RFP Programme (7 Modules)

Module 1: Fundamentals of Shariah Financial Planning
Module 2: Risk & Takaful Planning
Module 3: Shariah Investment Planning
Module 4: Zakat & Tax Planning
Module 5: Shariah Estate Planning
Module 6: Retirement Planning
Module 7: Applications in Shariah Financial Planning

Financial Planning Awareness Workshops for Undergraduates, Practitioners and Public
“Elevating Financial Planning Literacy of Malaysians”

MFPC promote awareness on value and importance of financial planning and services for the financial planning professions. Towards this effort, continuous financial planning awareness workshops and programmes have been conducted for undergraduates, practitioners and the public nationwide. These programmes include;

(a) Financial Planning Workshop – My Money and Me

(b) Shariah Financial Planning Awareness Programme


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pdf-flat MFPC Backgrounder