Kuala Lumpur, 27th JUNE 2019 – Malaysian Financial Planning Council (MFPC), the body that represents financial planning and Shariah Financial Planning professionals and Financial Services Providers in the region with over 13,000 members has appointed Vincent Kwo Shih Kang as the new
president for the term 2019-2021 during the 7th Election that was conducted simultaneously during the Council’s 15th Annual General Meeting.

As a seasoned and trusted leader as Vincent Kwo is, MFPC has faith in him to lead the Council to greater heights. “He is uniquely qualified to drive strategic prioritization and accountability within MFPC, with a laser-focus on promoting financial planning.” The immediate past president, Michael
Kok Fook On also said, “I have tremendous confidence in his ability to align and prioritize MFPC’s vision and mission and ensuring operational excellence across the organization.”

Prior to this appointment, Vincent Kwo had a long history with MFPC from being a member since 2008 and also being a part of the National Council in 2009/2011 and 2017/2019. Outside of the MFPC’s, he has contributed and achieved numerous accolades in the finance industry such as beingthe Chairman of ASEAN Insurance Council (2013 – 2014), President of LIAM (2012 – 2015), Director of Malaysia Institute of Insurance (2012 – 2015), Director of Malaysia Rating Corporation Bhd (2012 –2016), Council Member of Professional Membership & Academy of Malaysian Insurance Institute Council and many more. Apart from that, Vincent Kwo was also elected as the President of MFPC in the year 2011/2013.

This year marks the 15th anniversary for MFPC since its inception in 2004 and it truly has come a long way.With a steady growth of qualified financial planners, MFPC continues to innovate and provide game-changing initiatives for financial literacy education.

Concurrent to Vincent Kwo’s appointment, Desmond Chong Kok Fei was elected as the new Deputy President of MFPC.With more than 15 years in the finance industry and also being a prominent resource person for financial education via the mass media, MFPC believes he will carry this
responsibility with great accountability.

Effective immediately, Vincent Kwo and Desmond Chong will assume responsibility with other newly elected office bearers and National Council member in the National Council for the term 2019-2021.

MFPC 8th Graduation Ceremony

Kuala Lumpur, 8 April 2019 ­ MFPC held its 8th biennial graduation ceremony, at the Berjaya Times Square Hotel, celebrating the accomplishment of over 500 graduating students with the Registered Financial Planner (RFP) or Shariah Registered Financial Planner (SRFP) designations. Building on its success since the year 2004, this year’s ceremony focused on the importance of transforming the lives of individuals by ensuring the adoption of financial planning approaches.

Representing the Malaysian Government at the Council’s 8th Graduation ceremony was YB Fuziah Salleh from the Prime Minister’s Department who is in charge of Islamic affairs. MFPC has in recent years build the momentum of the Shariah RFP designation to meet the needs of the Malaysian populace.

In her speech, Fuziah Salleh said, “I would like to remind you that professionals like you are critically needed for the too many Malaysians who face financial distress”. “More and more Malaysian consumers are getting into serious financial problems due to poor financial knowledge, wrong attitudes and poor financial habits leading to irresponsible financial behaviour,” she added.

Michael Kok Fook On, President of MFPC, congratulated and encouraged the graduates. He said, “As the demand for Islamic financial services continues to grow locally and globally, Malaysia is well placed to take advantage of this. It is Islamic finance that provides Malaysia with our advantage over neighbouring financial centres”. “MFPC’s development of the Registered Shariah Financial Planner has certainly been a move in the right direction. And I am encouraged to see Muslims, as well as non-Muslims, graduating today with this designation. This augurs well for Malaysia’s thrust to be an Islamic Finance hub”, he said.

The Agensi Kaunselling & Pengurusan Kredit (AKPK) and the Employees Provident Fund (EPF) has made it compulsory for all their customer-facing financial advice personnel to be equipped with either the RFP or Shariah RFP designation. The favoured designation in Malaysia was the brainchild of the former governor of Bank Negara Malaysia and is the prerequisite qualifications for the application as licensed intermediaries.

The ceremony also saw the annoucement of four outstanding student awards, and the confermnent of fellow members to Vincent Kwo, Deputy President of the Council, Khor Hock Seng, Group Chief Executive Officer of Great Eastern Holdings Limited, Fikri Mohamad Rawi, CEO of Sun Life Malaysia Takaful Berhad and Ahcene Lahsasna, CEO of Salihin Shariah Advisory for their outstanding contribution to the development of MFPC.

Our home grown RFP programmes ensures our graduates are able to blend ground-breaking intellectual achievement with practical applications

In tandem with the expeditious growth of the Certified MFPC Trainer community, the Certification and CPD Board (CCB) has deliberated to strengthen the structure of the trainer/lecturer certification system in providing a comprehensive coverage for all MFPC members who is inspired to register as Certified MFPC Trainer under MFPC.

In this regard, the CCB has considered pertinent factors such as variation of training abilities; scholarly contributions; valuable industry exposure; commitment and experience in developing the financial planning profession in Malaysia; and the Board has established a structured and systematic framework for Certified MFPC Trainers to provide continued support to the Council in offering quality financial planning education to the members and public at large.

With immediate effect, the MFPC’s trainer classification will be grouped into two categories, which are the Certified MPC Trainer (CMT) and the Principle Certified MPC Trainer (Principle CMT). Please find enclosed herewith up-dated Principle CMT and CMT guidelines for your attention.

In addition, the Board acknowledges and respects experts’ views and participations in contributing to the positive growth of the financial planning education; and the Board welcomes individuals in various relevant industries to register as Certified MFPC Subject Matter Expert.

For further clarification and assistance, please contact Ms. Wawa, Education and Training Department at 03-6203 5899 or email to wawa@mfpc.org.my.


click >>Guideline for Certified MFPC Trainer (CMT)

Thank you.

Yours sincerely
Malaysian Financial Planning Council
Dr Desmond Chong Kok Fei
Certification and CPD Board

Financial Planning Literacy Programme for Youths

Seremban, Negeri Sembilan, 6th January 2018 – Malaysian Financial Planning Council has organised a one-day Financial Planning Shariah Workshop for youths at Bilik Pameran Majlis Perbandaran Seremban.

This workshop is part of the initiative from MFPC in order to provide quality basic financial literacy for all Malaysians, which is aligned to achieve Sustainable Development Goals (SDGs) by United Nations (UN) of which the Council is a signatory. This one day workshop was launched by Deputy Minister of Education II, YB Senator Datuk Chong Sin Woon. The Council received support from many agencies especially agencies that are familiar within the financial sector such as EPF, FiMM, and AKPK and for the programme to cover key fundamentals of financial planning and to help youths to use financial planning knowledge towards their advantage. Besides, others NGO’s like Majlis Belia Malaysia also committed to ensure the success of this program by inviting all the youths in Negeri Sembilan in order to join this literacy programme.

The core objective of this programme is on creating awareness to youths on prudent personal finance, improve youth’s knowledge about planning aspects of personal finance and allows youths to master skills using personal finance management methods to have a better future.

YB Senator Datuk Chong Sin Woon, Deputy Minister of Education II, said ‘To promote more financial literacy among youths, the Malaysian government through the Ministry of Education is pleased that such a programme is being organised at no cost for participants’. He commended, MFPC for successfully organising this seminar and the various stakeholders for coming together to organise this programme.

Meanwhile, Mr. Michael Kok Fook On, said ‘Financial education must start at an early age and preferably before youths go off to work in the real world. Providing financial education to adults is not enough to ensure a financially literate Malaysia. To enable financial education to reach the masses, the subject must be integrated to our youth and children. Financial education should play an important role around the community in order to educate youths well’.

He reiterated that MFPC would continue to work with numerous stakeholders in the series of free literacy seminar and remains committed to promoting financial literacy and financial well-being.  This financial literacy programme was made possible through the financial support of the Capital Market Development Fund (CMDF).

Financial Planning Literacy Crucial in Achieving National SDGs

Kuala Lumpur, November 24th, 2017 – As part of the Malaysian Financial Planning Council (MFPC) agenda to achieve the United Nations (UN) Sustainable Development Goals (SDGs) and to ensure proper planning and sustainability of financial literacy in Malaysia, the MPFC has signed a memorandum of understanding (MoU) to collaborate with Global Compact Network Malaysia (GCMY).

MFPC and GCMY will collaborate to promote awareness and advocate for financial planning to enable financial sustainability. They will also partner with the Government, think-tanks and academic centres to design sustainability into financial planning education. Together MFPC and GCMY will conduct training and information sharing sessions, seminars, workshops and best practice exchanges with stakeholders domestically and regionally.

MFPC has committed to SDG 4 and SDG 17 to, respectively, ensure inclusive and equitable quality education and to implement and vitalize global partnership for sustainable development. MFPC and GCMY have a roadmap to achieve these goals by raising awareness on financial planning, providing skills to improve individual understanding and knowledge of rights.

In expressing his appreciation, MFPC’s President, Michael Kok Foo On said “It is certainly a privilege for us to collaborate with a world recognised body and it is indeed very encouraging as we continue doing what we do ever since our initiative in 2002 through the support of the Malaysian Government”. He added “A good understanding in financial literacy will make an important impact to the efficiency of the financial system and to the performance of the country’s economy.”

Puvan J Selvanathan, President of GCMY, said, ‘“With MFPC we can help to improve the level of financial literacy nationally. People are sustainable when they have financial security on income, education and health for their household. MFPC programmes and projects strategically strengthen the achievement of the SDGs in Malaysia”.

MFPC recognises the challenge to meet the UN SDGs by 2030 and is committed to creating a viable economic foundation for the future. The target programmes will promote sustainable livelihoods, education and sustainable economic and financial well-being.