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Tuesday, 28 August 2007

Malaysia seen as model for Islamic finance

KUALA LUMPUR: Malaysia is fast becoming recognised as the model for the successful development and establishment of an Islamic financial system alongside conventional banking in the Asia-Pacific [and globally]. “This is not surprising as Malaysia as a multicultural nation was quick to recognise and respond to the significance of cultural, religious and social dimensions of modern life in the mechanism for transactions,” Association of Business Executives (ABE), UK chairman Datuk Dr Tan Tiong Hong said. Knowledge and skills in Islamic financial systems will continue to grow. In order for us to be even more creative and innovative in contributing to this pool of knowledge, we will need Malaysians who can think out of thebox.” He was speaking at the seminar with the theme, “Malaysia’s role in Global Islamic Finance Leadership, Education and Value Innovation,” yesterday. The seminar, organised by ABE, was held in conjunction with the inaugural ABE-Edward de Bono International Gold Medal Award 2007. Deputy Prime Minister Datuk Seri Najib Tun Razak, who received the award from ABE president Edward de Bono, was its first recipient. He received it in recognition of his contribution to education nationally and internationally. The award is also known as the “The Educator” Award. A memorandum of understanding was also signed yesterday between ABE; The International Society of Business Administrators, UK; the Centre for Islamic Business Research, Malaysia; and Zheng He Education 1421 yesterday. Under the alliance, the parties will produce and conduct courses in Islamic banking at the diploma and degree levels. They will also jointly provide the syllabus, study modules, classroom and tutoring facilities and certification for the programmes.

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