Kuala Lumpur, 8 April 2019 A one-day International conference by industry experts both local and international set out to share their expertise and knowledge at the Conference on Islamic Wealth Management and Financial Planning 2019 – ‘Financial Consumer Protection and Value-Based Intermediation’ which began today at Berjaya Times Square Hotel, Kuala Lumpur. The one-day event, organised by the Malaysian Financial Planning Council (MFPC) and supported by the Employees Provident Fund (EPF), Permodalan Nasional Berhad (PNB) and AIA Public Takaful Sdn Bhd, is in line with Bank Negara Malaysia’s drive on implementation of VBI by Islamic financial Institutions towards a sustainable financial ecosystem.
The conference which served as a platform for networking and the exchange of thoughts and outlooks about the inner workings of the Islamic financial industry for over 300 delegates comprising policy makers, research institutes, government agencies, practitioners, and scholars from Malaysia to examine VBI methodologies and to serve the changing requirements of Islamic banking for Malaysians. The conference also aims to build global partnerships and forge strategic alliances on Islamic finance education.
Minister in the Prime Minister’s Department, Fuziah Salleh, who is in charge of Islamic affairs in her speech said “the business models of Islamic financial institutions should be guided by the overarching objectives of Maqasid which are to preserve and advance the common interest of society at large, by preventing harm and maximising benefits”. “This is now more important than ever to steer the growth and development of the industry on a more sustainable path.” she added.
President of MFPC, Michael Kok Fook On, explained that among the key objectives of the conference was to gain a better understanding on the current situation of Islamic wealth management and financial planning, explore the best practice standards of wealth management and financial planning based on Shariah, and build a networking platform among Shariah scholars from various Islamic financial institutions.
In addition to exploring latest trends and innovative Islamic financial instruments for financial inclusion, the delegates also shared ideas with policymakers for boosting economic development, shared prosperity and environmental sustainability.
The conference is also supported by the Malaysian Takaful Association (MTA) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM).This multi-stakeholder conference provides an excellent platform for the discourse of ideas and features an impressive line-up of reputable speakers from the industry.