Driving to Achieve Intellectual Excellence in Islamic Finance - Labuan IBFC Inc

Press Releases

KUALA LUMPUR, 11 June 2014 - Industry experts set out to share their expertise and knowledge at the Conference on Islamic Wealth Management 2014 - 'Islamic Wealth Management for a Brighter Future' which began today at Sasana Kijang, Kuala Lumpur. The two-day event, jointly organised for the first time, by the Malaysian Financial Planning Council (MFPC) and Labuan International Business and Financial Centre (Labuan IBFC), is in line with the national agenda to make Malaysia a leading international and regional hub for Islamic finance.

The conference serves as a platform for networking and the exchange of thoughts and outlooks about the inner workings of the Islamic financial industry for close to 300 delegates comprising policy makers, research institutes, government agencies, practitioners, and scholars.

Deputy Minister of Finance, Datuk Hj Ahmad Mazlan, in his speech said it is his hope that the knowledge and the networking opportunities that will be made available through the conference will mark the initial steps into a new and exciting field of financial services.

"To realise the ambition of propelling Islamic wealth management to the next level, there is a need to build unique selling propositions. Islamic wealth management is naturally in the next-stage development of our Islamic finance industry with the availability of our infrastructure, from the human capital development to the Islamic financial institutions and expertise that we have today," he added.

President of MFPC, Md. Adnan Md. Zain, explained that among the key objectives of the convention 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 conventional financial planners and Shariah scholars.

Labuan IBFC Chief Executive Officer, Saiful Bahari Baharom, said Malaysia is among the pioneering jurisdictions that have successfully developed and incorporated Islamic finance into its modern financial system. "The Islamic finance ecosystem that Malaysia has, coupled with Labuan IBFC's conducive legal and regulatory environment for Shariah-compliant businesses, paved the way for Labuan IBFC to expand its Islamic finance market," he added.

The conference features an impressive line-up of reputable speakers from the industry who will provide discourses exploring key principles and avenues of Islamic wealth management. Topics include Islamic Private Wealth Management in the International Market, Faraid & Family Legal Issues, The Shariah Framework for Wealth Mobilisation, and The Challenges and Issues in Private Islamic Wealth Management.

MEDIA CONTACTS:

For media enquiries, please contact:-

Shamillia Sivathambu, Director, Communications

Labuan IBFC Inc. Sdn Bhd

+6 03 27738977

pressteam@libfc.com

Mervin Anthony, Assistant Manager, External Relations and Project Management

Malaysian Financial Planning Council

+6 03 62035899

mervin@mfpc.org.my

NOTE TO EDITORS:

ABOUT LABUAN IBFC – ASIA PACIFIC’S MIDSHORE INTERNATIONAL BUSINESS AND FINANCIAL CENTRE

Labuan International Business and Financial Centre (Labuan IBFC) offers global investors the benefits of a leading international financial centre with access to Malaysia's network of over 70 double taxation treaties. As a leading midshore jurisdiction, investors enjoy the benefits of Labuan's efficient fiscal framework and market-friendly business environment, supported by professional service providers specialising in all aspects of insurance, takaful, international tax, trust and law.

Located off the North West coast of Borneo, Labuan IBFC is a leading jurisdiction for conventional and Islamic financial services.

Please visit: www.libfc.com.

ABOUT MALAYSIAN FINANCIAL PLANNING COUNCIL (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. The Registered Financial Planner (RFP) programme was launched by the 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) as the prerequisite qualification to apply for the Financial Advisers' License and Financial Advisers' Representative License. RFP designation was also approved by Securities Commission Malaysia for the application of the Capital Markets Services License (CMSL) in view of the introduction of the Capital Markets and Services Act 2007.