Membership Guidelines
The Membership Guidelines serve as a guide to streamline the standard operating procedures pertaining to membership matters.
Entrance Fees and Yearly Subscriptions schedule for all types of Membership are as follow:-
| Membership Type | -Entrance Fees– | -Yearly Subscriptions- |
|---|---|---|
| -ChPO Member | Nil | RM1,000.00 |
| -FSO Member | RM1,000.00 | RM1,000.00 |
| -CHFSI | RM5,000.00 | RM1,500.00 |
| -FSI Member | RM500.00 | RM1,500.00 |
| -FSF Member | RM100.00 | RM500.00 |
| -Ordinary Member | RM50.00 | RM200.00 |
| -Fellow Member | RM50.00 | RM300.00 |
| -Student Member | RM50.00 | RM80.00 |
| -Affiliate Member – Individual– | RM100.00 | RM100.00 |
| -Affiliate Member – Corporate | RM100.00 | RM500.00 |
Fees collection
Members are required to subscribe annual subscriptions to maintain membership. Three letters will be issued by MFPC Secretariat to members on membership fee :-
A Renewal Notice will be issued in the 1st week of December to draw members’ attention that annual subscription shall be payable on 1st January each year.
First Reminder Letter will be issued in the 1st week of February to remind members’ who have outstanding payment to remit payment not later than 28 February.
Second Reminder Letter will be issued in the 1st week of March to remind those yet to settle the outstanding payment to remit payment not later than 31 March.
*Notification on Ceased of Membership
A member who allows his/her arrears to exceed a period of three months shall cease to be a member. Upon approval from the National Council; ceased members’ will be given a notification informing their ceased membership status with the MFPC. Notification is send to members’ correspondence address through normal pos.
Reinstatement Fee; Membership Arrears and Refresher Course for Lapsed Membership
Members with an outstanding membership fee for more than 3 months will be ceased to be a member. He/she is required to appeal for reinstatement through the Vice President of Membership by fulfilling the requirements set by the Membership Committee and approved by National Council from time to time.
The reinstatement appeals will be reviewed by the Membership Committee and subject to the approval of the Committee. He/she is required to pay the amount in arrears plus the current annual subscription and reinstatement fee in order to reinstate his/her membership.
| Category of Membership | Reinstatement Fee | Current Year Membership Fee | Membership Arrears (# Number of Year Lapsed) | To attend Refresher Course |
|---|---|---|---|---|
| Ordinary / Fellow MFPC | Â | Â | Â | Â |
| Membership Lapsed for 1 to 4 years | RM200 | RM212 | RM212 x #Years | N/A |
| Membership Lapsed for 5 years and above | RM200 | RM212 | RM212 x #Years | CPFP RM1,800 |
| 30 CPD Hours required per year | Â | Â | Â | Â |
| Affiliate RFP / Shariah RFP | Â | Â | Â | Â |
| Membership Lapsed for 1 to 4 years | RM100 | RM100 | RM100 x #Years | N/A |
| Membership Lapsed for 5 years and above | RM100 | RM100 | RM100 x #Years | M1Â Refresher Course RM1,000 |
| 20 CPD Hours required per year | Â | Â | Â | Â |
| Student | Â | Â | Â | Â |
| Membership Lapsed for 1 to 4 years | RM80 | RM80 | N/A | N/A |
| Membership Lapsed for 5 years and above | RM80 | RM80 | N/A | M1 Refresher Course RM1,000 |
| CPD fulfilment is not applicable | Â | Â | Â | Â |
It’s important to observe that RFP/Shariah RFP/Affiliate RFP/Affiliate Shariah RFP designee shall remain active member of the MFPC to declare and proclaim the professional title and qualification for professional practice; commercial or academic purposes.
Membership Automatic Upgrade Mechanism
Effective 1st January 2017, Certification & CPD Board adopt and enforce automatic upgrade mechanism for Student Membership to be upgraded to Affiliate RFP/Shariah RFP Membership; and for Affiliate Membership to be up-graded to Ordinary Membership upon successful completion (Passed) of the relevant RFP/Shariah RFP examination(s) of the members.
Timeframe to Complete the RFP/Shariah RFP Programme
Effective 1st January 2017, all Members are required to complete RFP/Shariah RFP programme within 7 years from the date of examination registration of the RFP/Shariah RFP programme. For example, if a new student registers RFP Module 1 Examination on 15 June 2017; he/she is required to complete the entire RFP programme (7 modules) by 15 June 2024.
Annual 30-CPD Credit Hour requirement for Ordinary Members
For Ordinary Members, they shall comply to complete an Annual 30-CPD Credit Hour requirement. They are required to submit all Certification of Completion Letters/ Certifications (Certified True Copies are acceptable) upon membership renewal and/or by December each year.
Annual 20-CPD Credit Hour requirement for Affiliate Members
For Affiliate Members, they shall comply to complete an Annual 20-CPD Credit Hour requirement. They are required to submit all Certification of Completion Letters/ Certifications (Certified True Copies are acceptable) upon membership renewal and/or by December each year.
Registration of Examination
Student Members with outstanding membership fee shall not be allowed to register for RFP /Shariah RFP examinations
Registration in October, November and December for the new year
New member who has registered and made payment in the month of October, November and December shall be considered membership payment paid for the relevant month(s) and the coming new year (15 months membership).
Materials to be given for new member
A new member (Ordinary Member, Affiliate RFP/Shariah RFP Member, ChFSI, FSI, FSF, FSO & Affiliate Corporate) shall be given;
i. RFP Certificate/Corporate Certificate
ii. Constitution of the MFPC
iii. Code of Ethics, Practice Standards and Disciplinary Proceedings.
Member shall be given a membership card annually. Active Ordinary member and Affiliate Member, his/her name shall be displayed onto MFPC Website.
Affiliate RFP/Shariah RFP and Student Member shall be given a student membership number and an official receipt to be issued upon receipt of annual subscription within 30 Working days.
Membership verification
Membership verification can be performed on complementary basis upon request by Members with “Active” membership status only. For “Non-Active” members; request must be made in writing; and administration fee RM31.80 (inclusive GST) is applicable for one (1) verification to be conducted.
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For enquiries please contact membership department at 03-6203 5899 or email to membership@mfpc.org.my
