KLRCA i-Rules

The Kuala Lumpur Regional Centre for Arbitration otherwise known as KLRCA launched the KLRCA i-Rules during the recent 3rd Global Islamic Finance Forum (GIFF 2012) held at Sasana Kijang, BNM in September 2012.

Read the KLRCA i-Rules HERE

>>>>>>>
TODAY, I'd the pleasure of interviewing the Director of KLRCA i.e. Dato Sundra Rajoo to get more details of what the KLRCA i-Rules is all about.

"NO HOLDS BARRED" INTERVIEWS at 3rd World Riba Conference 2012

UPDATE:
Blogpost by one of the Speaker I'd interviewed i.e. Tom J.Kennedy @ Tommy La Riba form Canada. Read Tommy's UsuryFree blog HERE

(Tom J. Kennedy @Tommy "UsuryFree" Kennedy @T.LaRiba. Interviewed at 3rd RIFCON 2012 )

>>>>>>>
Overall it was a successful outing for Blogger and also from the IF Media angle at the 3rd World Riba Conference 2012 held in Kuala Lumpur from 26-27th November 2012.

WHY SUCCESSFUL?
~ Why Successful? - Well, 2 main reasons:-
FIRSTLY, it was the first time I'd managed to interview a number of International Speakers who were "NOT holding back their shots" so to speak in their unanimous condemnation of the present usury-based system and the failings of the present economic chaos.

and SECONDLY, posssible collaborative projects are in the works.

More Importantly, my network and linkages have been expanded... reminiscence of the days whilst attached to the Political and Security Co-operation Directorate at the ASEAN Secretariat, Jakarta-Indonesia.


Managed to interview Speakers in the following order:-
(1) Hugo Salinas Price
Billionaire & President, Mexican Civic Association Pro Silver - MEXICO

(2) Bill Still
MoneyMasters Producer & Journalist - Virginia, USA

(3) Ellen Brown
President, Public Banking Institute & Author - California, USA

(4) Afroz Ali
Founder, Al-Ghazalli Centre - Sydney, AUSTRALIA

(5) Thomas J.Kennedy @ Tommy "Usury Free" Kennedy @ Tommy La-Riba
President, Cyberclass Network - Ontario, CANADA

3rd World RIBA Conference 2012, COVERED

" Media & Riba: PARTNERS in CRIME? ", Paper PRESENTED!

A Media Paper titled "Media & Riba: PARTNERS in CRIME???" had just been presented by Azharin Khamis and blogger in the Open Forum at the 3rd World Riba Conference held at MINES Resort, Sg.Besi - KL.

Amongst salient points highlighted by blogger:-
* The need for a Halal Certificate to be introduced for each Islamic Finance product.
* The need to highlight alternative viewpoints in Islamic Finance like Fractional Reserve Banking and Dinar Dirham currency.
* Suggested for a people's movement to collect funds and advertise in mainstream media ala the People TV Live telecast for the World Cup n 1982.



>>>>>>>
HIGHLIGHTS, in later Update / UPDATE to Follow Suit.

Islamic ESTATE PLANNING

" Wahai Abu Hurairah! Belajarlah ilmu Faraid Dan ajarkanlah kepada orang lain kerana ia adalah separuh ilmu. Dia Akan dilupakan Dan dia Akan menjadi perkara pertama dicabut dari umatku." (Riwayat Ibn Majah dari Abu Hurairah r.a.)

Am attending a 3-day Islamic Estate Planning(IEP) course at the As Salihin Trustee Berhad HQ located In Kelana Jaya-Selangor branch as part of my undertaking for the newly-formed QIBLAH Consulting (an Islamic Finance Consulting, Advisory & Services outfit). and also as preparation for a segment on "Opportunities in Islamic Finance" for the ISLAMiC FiNANCE TV programme on The Capital TV, Channel 127 (Hypp TV-UNIFI).

An interesting hadith learnt today is:- "Half of Knowledge is in Faraid"
Very interesting training content.

More Report after the 2nd Day.

Takaful Basic Examinations (TBE), Taken & Passed

I'd recently(on Thursday to be more specific) sat for the Takaful Basic Examination (TBE) at the Open University of Malaysia(OUM), Petaling Jaya-Selangor branch as part of my undertaking for the newly-formed QIBLAH Consulting (an Islamic Finance Consulting, Advisory & Services outfit).

In my journey of preparing and sitting for TBE, I'd encountered many hassles or, inconveniences. Further down the road I hope to pen down my experiences and perhaps suggestions for improvements in an Open Letter or, Blog Post to BNM and IBFIM of the hassles encountered and shortcomings discovered.

For Now, suffice to say that having read about 20-25% of the suggested book I.e. "Amalan " one and a half day prior to the TBE.......I'd PASSED!
Which brings me to other questions...and they are:-
(1) TBC

(2) TBC

(3) TBC

HIKMAH: MATAwang Shariah dan Melayu - PENIPUAN dalam Kewangan & Perlembagaan???

Cebisan VIDEO Pembentangan, DISINI


KEMASKINI Terkini!

Saya diminta oleh Pengasas & Penganjur HIKMAH iaitu Saudara Radzi Sapiee untuk membuat rumusan pembentangan saya.

RUMUSAN Pembentangan:-
(1) Matawang Melayu Islam yang pada fitrahnya sudah mengikut sunnah Nabi Muhammad SAW mengalami perubahan kerna ditipu secara halus oleh penjajah apabila Nota Hutang diperkenalkan.

(2) Perlembagaan Malaysia diterapkan nilai Sekularisma dengan adanya "Federal & State List". Perkara berkaitan Islam Dan Adat Melayu di bawah naungan Sultan(State List) tetapi kenapa "Perbankan Islam" di bawah Kerajaan Persekutuan(Federal List)?

(3) Kembalikan pengunaan Matawang Sunnah & Perbetulkan Perlembagaan.

>>>>>>>

Alhamdullilah, setelah beberapa kali tempat perjumpaan bertukar tempat acara HIKMAH selamat dijalankan pada hari Ahad, 4 November 2012 (1433 Hijrah) bertempat di Yayasan Restu Shah Alam. Gambar-gambar Sesi Suai-Kenal HIKMAH, DISINI

Cerita Pertukaran Tempat:-
(1) Yayasan Restu, Shah Alam
(2) Akademi Pengajian Melayu - UM, KL
(3) Seksyen 18, Shah Alam
(4) Pusat Belia, Seksyen 7, Shah Alam (Cadangan Asal)

Tema ataupun tajuk acara pun mengalami 2 perubahan seperti berikut:-
(1) Suai Kenal HIKMAH (Tema Akhir).
(2) Wacana Keilmuan Melayu Islam
(3) HIKMAH (Cadangan Asal).

Pembentangan Konsep Kertas Kerja bertajuk " Matawang Shariah dan Melayu: PENIPUAN dalam KEWANGAN dan PERLEMBAGAAN " juga selamat dijalankan. Walaupun masa yang diberikan agak suntuk, initipati pembentangan dapat disampaikan dengan bercakap seperti "kereta api bergerak".Semoga para hadirin mendapat intipati pembentangan.

Terima Kasih diucapkan kepada pihak Penganjur iaitu Saudara Radzi Sapiee di atas undangan pembentangan dan ruang yang diberikan kepada Penulis Blog. Syukran & Jazakallah.

HIKMAH - Matawang Shariah, Matawang Melayu!?

Blog HIKMAH

Status TERKINI, 1/11/12:

Program: " Suai Kenal HIKMAH "
Tarikh.: Ahad, 4 November 2012. Jam 9 Pagi - 5.30 Petang
Tempat : Yayasan Restu (berdekatan Masjid Negeri), Shah Alam, Selangor

Tajuk Pembentangan:
" Mata Wang Syariah dan Melayu : Penipuan dalam Kewangan dan Perlembagaan? "

>>>>>>>

Status Terkini: BACA DISINI

>>>>>>>

Program: HIKMAH - Himpunan Kedaulatan Melayu Islam Akhir Zaman
Tarikh.: Ahad, 4 November 2012 (9pagi - 4petang)
Tempat.: Seksyen 18, Shah Alam, Selangor, Malaysia

Tajuk Pembentangan Penulis Blog:
(1) " Matawang Shariah, Matawang Melayu !?" (Tajuk Tentatif)

(2) " Perlembagaan & Kewangan Islam " (Tajuk Tentatif)

Program HIKMAH adalah cetusan ide Saudara Radzi Sapiee, seorang Penulis yang terkenal dengan buku-buku seperti Trilogi "Berpetualang ke Aceh", "Rumah Azan", "Kereta Api...Menuju Destinasi", "Ahlul Bait" dan lain-lain. Program adalah initiatif Saudara Radzi dan rakan seperjuangan yang berhajat Mendaulatkan Dan Memartabatkan Sejarah dan Kebudayaan Melayu. HIKMAH, BUKANLAH sebuah agenda politik untuk mana-mana Parti Politik masa kini di Malaysia.

Latarbelakang HIKMAH.

3rd WORLD RIBA CONFERENCE - Paper Abstract ACCEPTED. "Media Against Riba"

UPDATE 11/10/12:

Paper will be tentatively titled " Media & Riba: Partners in Crime??? ".
Azharin Khamis and Kamal Rusydi will be part of the Team.

iBAF 2012: Innovation & Transformation in Islamic Banking and Finance @ USiM

TODAY, for the 1st time I went to the Universiti Sains Islam Malaysia(USIM) at Nilai, Negeri Sembilan.

USIM's Economics and Muamalat Faculty was organising the 2012 Islamic Banking and Finance Conference otherwise known as IBAF 2012. The theme for IBAF 2012 is - Innovation and Transformation in Islamic Banking & Finance: "Issues, Opportunities & Challenges."

A Good Session by Sheikh Abdul Kareem Said Khadaied on Abandoned Houses under BBA contract. Hope to cover this topic in Season 3 of ISLAMiC FiNANCE at The Capital.
Also attended a Concurrent Session on Investment dealing with amongst other Sukuk, Stock Market Volatility (FBM Emas v. FBM Syariah) and Wa'ad in FOREX.

BUDGET 2013, Malaysia.

17,000 PageVIEWS for ISLAMIC finance blog by AHM

I am not exactly sure when the 17k PageVIEWS milestone was attained. Most probably it was either yesterday or, today.


According to the Blog Stats Report, the top 10 views were made from the following countries:-
(1) MALAYSIA
(2) 1,857 - USA
(3) 1,110 - RUSSIA
(4) 798 - Germany
(5) 462 - UK
(6) 461 - Ukraine
(7) 426 - Netherlands
(8) 408 - France
(9) 266 - Latvia
(10) 186 - Slovenia

I find it kind of strange that a majority of the viewers (with the exception of Malaysia) are from countries where there is no sizable or majority Muslim population.

More IMPORTANTLY for me is the data on Popular Posts;-
(1) 1,961 - HALAL CERTIFICATE
(2) 1,379 - SC-OCIS
(3) 966 - IMaC 2011
(4) 960 - Malaysian Capital Market Conference
(5) 832 - 2nd Global Islamic Finance Forum (GIFF 2010)
(6) 789 - 4th International Islamic Capital Market Forum
(7) 371 - (April 12,2012) TOP GUN Vacancy at Bank Rakyat & NEW Code of Conduct
(8) 186 - Attended at TTDI
(9) 183 - (Nov.9,2010) ISRA Blooms
(10) 127 - (Sept.1,2011) 54 Tahun Merdeka

Thank You Very Much for Viewers Support, Syukran & TERiMA KASiH.

Next Target is 20k PageVIEWS by the 1st Quarter of 2013.

MALAYSIA - BUDGET 2013: fm ISLAMIC FINANCE's Weltanschauung

It's "that" time of the year again when the Ruling BN Coalition will present it's budget for Malaysia in 2013 on Friday, 28 September 2012 in the Parliament.

Lobbying by the various industry(ies) interest groups, NGOs and other corporate or individual entities would have reached feverish levels. Even as the host for a TV programme...I am not spared!!!

It'll be interesting to see how prominent or, NOT as to how Islamic Finance will be featured in Budget 2013 by PM Najib Razak on Friday as compared to last year.

2012 Islamic Finance features and/or initiatives, Read HERE

Any Comments, Suggestions or Inputs especially from the Islamic Finance Perspective is much appreciated and welcomed. Do leave your Comments in this blog or, email them to amirulif@gmail.com or, IF@ahmCREATES.com.my.

3rd GLOBAL ISLAMIC FINANCE FORUM (GIFF 2012), Covered!

Normally, I would just write " xxx Event, Attended! ". However,this is the FIRST (or rather the 2nd time if last year's ICM is taken into account) time that I'm participating in a major Islamic Finance event with a Global stature as a member of the Media due to my Consultant Producer role for the ISLAMiC FiNANCE programme @The CAPITAL TV, Channel 127 - Hypp TV, UNIFI.

GIFF 2012 Official Website, HERE

Having attended the 2nd GIFF in 2010, certain changes can be observed. The "vibrancy" is one. Whether it's Positive, Negative or, Mixed....is open for debate!!!

Previously in GIFF 2010, the Prime Minister of Malaysia opened the Forum followed by a Public Lecture. This time around the Governor of the Bank Negara Malaysia gave the Keynote address followed by a Public Lecture from the Deputy PM of Turkey...and that only on the 2nd Day of GIFF.

It was also interesting to observe that the RAIF(Royal Award in Islamic Finance) recipient I.e. Mr.Iqbal Khan gave a lecture in place of a Royal Address by the MIFC Ambassador from Malaysia.

Change of venue was nice as Sasana Kijang, KL is a better place compared to the previous hotel venue coupled with good food served.

It was good to have been able to link-up with old friends from the Islamic Banking sector since 1994/95, Alumni members(from College, A-Levels & University) as well as new friends during GIFF 2012.


(to be continued....)

IQBAL KHAN - 2nd Recipient of the Royal Award in Islamic Finance (RAIF 2012)

IQBAL AHMAD KHAN was announced as the 2nd Recipient of the Royal Award in Islamic Finance (RAIF 2012) during a Gala Dinner held in the Kuala Lumpur Convention Centre, Malaysia.

The Yang Dipertuan Agong conferred the award to Mr.Khan in a well attended Gala Dinner held in conjunction with the 3rd Global Islamic Finance Forum (GIFF 2012)which is currently being held over a period of 3days in Sasana & Lanai Kijang, KL.

CONGRATULATIONS to Mr.Iqbal Ahmad Khan.


Note: TQ to the Organisers for the kind invitation.
It was also a pleasure sitting on the same table with Mathew Smith(seated on my left) from the British High Commission (UK Trade & Investment) and his colleague, Norshazlina Nor'Azman@Lin from Bernama TV, Harbhajan Singh(Executive Editor) from Malaysian Reserve and the Al-Jazeera correspondent i.e. Samer Allawi. Do keep in touch.

" throw BRICs at the PIGS "

Video Excerpts of IIUM Talk,HERE & HERE .

( Promo Poster on the Talk done by the IIUM Economics Society )


...last month, whilst in the midst of preparing for a Communications and Cross-Cultural Communications programme for the RSOG in Kuantan I'd received an invitation from the Economics Students Society of IIUM (on behalf of the Medical Students Society of IIUM) to give a Basic Economics Talk to some 1st and 2nd Year Matriculation students in IIUM-PJ.

After discussing with my friends, we decided on the above-mentioned topic.
HERE is an interesting and humorous perspective by a Co-Presenter "pictured" below.

"MONEY" Talk at MoneyTree Academy!

The MoneyTree Academy teaches its students about Money! History, Value, Earning, Calculation etc etc.

I was invited on the 17th of July (177 for short) to give an afternoon Public Talk in September at the MoneyTree Academy located at Sri Hartamas-KL to the 1st MoneyTree Graduating Class on "The History of Money".

The audience were well-mixed from both sexes and consists of Chinese, Malays and even a Gentleman from Albania.

TQ Ms.Penny from the MoneyTree Academy for the kind invitation.

YPEIM Ar-Rahnu (Islamic Pawn-Broking)

UPDATE 10/10/12: View Excerpts of the Episode HERE

>>>>>>>>>>>>>>>
A discourse was held In Kg.Attap-KL on Monday, 10th September 2012 between the Capital TV Islamic Finance programme's Host and Madam Parihah Hasan the Director for Corporate Planning & Secretarial, YPEIM.

YPEIM stands for Yayasan Pembangunan Ekonomi Islam Malaysia or, Malaysia Islamic Economic Development Foundation.

The Interview with Madam Parihah on YPEIM's Islamic Pawn-broking services and operations will be shown as Episode 11 on The Capital TV's Islamic Finance programme on Thursday, 13th September 2012 at 10PM on Channel 127, Hypp TV-UNIFI.

SUKUK Issuance: fm ISSUER / Company PERSPECTIVE

UPDATE 10 Oct.2012:
View excerpts of the Episode HERE.

1st Discourse Interview after the Raya holidays.

Guest Speaker is Mr. Radhi Mohamad, a Public Accountant and presently the CFO for SCOMI Berhad. He was previously the CFO at 1MDB and Fima Group.

Amongst Matters Discussed:
(1) Why Choose to Issue Sukuk?
(2) Criterias to Look for in Chosing Sukuk Arranger(s).
(3) Overview of Sukuk Issuance Procedures in Malaysia
(4) Manpower Required at the Company level when Issuing Sukuk.

The Sukuk Issuance discourse will be aired at 10PM next Thursday i.e. 6th September on Channel 127, Hypp TV-UNIFI.

RAMADHAN & SYAWAL Special Episodes of ISLAMiC FiNANCE@The Capital TV

Interesting week shooting for my 1st ever Ramadhan and Syawal special episodes for the ISLAMiC FiNANCE tv programme at Channel 127, Hypp TV-UNIFI. The programme needs to "stockpile" for the Raya holidays period and ensure continuity in its tx (transmission) time every Thursdays at 10PM.

Prof.Dato' Dr.Sidek Baba was the Guest Speaker for the RAMADHAN special which was shot around 4pm on Tuesday. It was a pleasure to meet up with him after all these years as the last time I met him was during my student days in London when a gathering for Malaysian students studying in UK was held in Al-Muntada Centre. On Thursday, it was the turn of Assoc.Prof.Dr.Zaharuddin Abdul Rahman to be interviewed by me as the Speaker for ISLAMiC FiNANCE's SYAWAL festivities episode.

NOW, I know it's not as easy as it looks on tv when shooting in the fasting month especially if one is fasting and have to act as if it was already Syawal in the respective programme. Details of the Ramadhan and Syawal episodes are as follows:-


RAMADHAN Special TV Episode
-----------------------------------------
- Prof. Dato' Dr. Sidek Baba (View Excerpts HERE)
Venue: VIP Room, Institut Kefahaman Islam Malaysia (IKIM), KL
Episode: 7. Season: 2.
airTIME: Thursday, 16 August 2012 (10PM)

SYAWAL Special TV Episode
--------------------------------------
- Assoc. Prof. Dr. Zaharuddin A.Rahman
Venue: Nur Inai Bookstore, Plaza Damas, Sri Hartamas-KL
Episode: 8. Season: 2.
airTIME: Thursday, 23 August 2012 (10PM)

Interviewed 2 IF Establishment CEOs in as many Weeks!

Date: Friday, July 2012
Venue: ANGKASA HQ @ Kelana Jaya.
Speaker: Dato' Syed Ghazali Wafa. CEO - KOPSYA

Date: July 2012
Venue: HQ, As-Sallihin Trustee Berhad
Speaker: Tuan Haji Aziz Peru. CEO - As-Sallihin Trustee

Date: July 2012
Venue: Subang Airport

34th AGM of Malaysian Muslim Youth Coop Limited (KBI)

Date: Saturday, 23 June 2012
Venue: KL International Hotel
Event: KBI 34th AGM

Interviewed:-
(1) Mr. Azman - Deputy General Manager, KBI
(2) Mr. Asri - Secretary to the Board
(3) Mr. Asri - GM, KBI

Career Talk in IF @RMC, Sg.Besi

Venue: Wisma Putera, RMC - Sg.Besi
Time : 0930 - 1145 hours
Programme: R2R, 60th Anniversary

In conjunction with the 60th Anniversary, a Career Talk was held at the Wisma Putera, Sg.Besi-KL.

My pitch to the PP was simple - " Work in Islamic Finance and you can be part of the Global set-up. No other industry offers you that opportunity ".

Shared examples of Malaysia leading the IF industry globally.

Gave my thoughts of where the IF industry is heading... " DINAR & DIRHAM ".

SEMINAR DINAR EMAS: Pengukuhan Ekonomi Ummah

Dewan Tun Dr.Ismail, PWTC - Kuala Lumpur.

[ Afternoon Session: Forum/Q&A Panelists:-
(1)Prof.Dr.Khaliq Ahmad-IIUM
(2)Prof.Dr.Hj.Zuhaimy-UTM,
(3)Prof.Dr.Ahamed Kameel Meera-IIUM
(4) Syukor Hashim-Public Dinar ]

" Let It Be. Eventually, the Public will get the cheapest and easiest to trade with! "
(Prof.Dr.Hj.Zuhaimy - UTM Prof.) - in response to a question posed on the existence of many different Dinar and Dirham in the market with differing prices and spreads whereas the weight is the same.

Refer: dinardirhamtrade.blogspot.com

Note: Syukran to MMP & KGT for the invitation to attend the Seminar.

Top Gun Vacancy at Bank Rakyat & New Framework/Code of Conduct for Islamic Bank MD/CEO

UPDATE: TV3 News(25/10) - Acting MD have been confirmed wef July 2012.

Having been a Shareholder of Bank Rakyat for the last 15 years, I was piqued by the news of a vacancy for the Top Post at the Bank which appeared in the Utusan newspaper today. Read: UTUSAN ON-Line

The continued vacancy at Bank Rakyat is a cause for concern for shareholders like me used to annual dividends of above 10% and adds fuel to the speculation that NOT all is well at the Bank as you don't let a Billion Ringgit entity be "headless" for long. Am assuming the present Bank Rakyat BOD and the Minister concerned is having their pulse close to the heart/Bank Rakyat operations NOW!!!

Having interviewed Dr.Aznan Hasan who is the President of ASAS earlier this year ( Read: Interview with ASAS President ) and taking cognisance of a magazine article appearing on the Islamic Finance magazine last year depicting how "certain" so-called "Islamic Banker(s)" celebrate when clinching a deal(s), perhaps it's time that a code of conduct be introduced for MDs & CEOs of Islamic Banks as well, similar to what ASAS is planning for its members.......and BNM can start the ball rolling with the next MD or, CEO of Bank Rakyat.

The " Code of Conduct for MD/CEO of Islamic Banks" can state amongst others that a MD/CEO should NOT be seen at casinos or gambling outlets, NOT frequent karaoke joints or any other places that will tarnish the reputation of an Islamic Bank MD/CEO and ultimately the Islamic Bank's image itself.......JUST 2 of many clauses that can be stated in the Code of Conduct.

I hope the "powers that be" gives my suggestion, due consideration as I hated reading the article in the Islamic Finance magazine last year.

On a separate issue, whilst taking a stroll at Kiara Park today somebody told me that Gadaffi Ismail Sabri aka Daffy is an Ambassdor or, "Goodwill" face for Bank Rakyat, is it true?

The NEED for a NEW International Finance/Payment Architectural Framework

Sanctions have been imposed on Iran by predominantly Christian Western countries which effectively means that Iran is "cut-off" from the International Finance / Payment System.

It's time that "birds of a feather, flock together". Countries like Iran, Syria, North Korea, Cuba, Venezuela should form their own monetary platform(s) or, payment system(s). I've no doubt that individual Muslim countries would be bullied, threaten or be stopped using "whatever means necessary"
from joining this new international finance architecture. Just look at what happened in Turkey, Morocco, Iraq & Libya to get my drift. The solution for Muslim countries afraid to be bullied and threatened is very simple - JUST ensure OIC countries joins the system en-bloc and the numbers to make the system workable and functioning will be there.

The NEW International Finance/Payment Architecture would easily bypass the "controls" of the World Bank, IMF and whatever monetary institutions the powers that be can think of next to ensure their monopoly and ultimately veto on world finances. After all who needs the depreciating, print as you want USD from a nation heavily in debt and with "questionable" financial ratings or, the EURO from a continent heavily in debt with some of its countries bankrupt!

For a start bring back the GOLD-standards or, even a SILVER-standard as an alternative. The revival of a gold or silver standard will immediately expose the "hoax" or, illusion of fiat/paper money with its numerous Quantitative Easings, Print Paper Money As You Want it culture.

Next, start building OUR own Gold Reserves. Rather than store it with the normal culprits...who would almost automatically "freeze" the assets(Gold and other assets) of the nations it wages war on - MALAYSIA is an ideal centre to house the reserves of participating countries under the NEW Financial Architecture.

Concurrently, with the re-introduction of the Gold and/or Silver standards a bilateral and eventually multilateral barter system should be established...Actual Goods/Commodities from 1 country with another country's Products.

You just wonder who will be left holding PAPER money when the New Financial Architecture takes place!!!???

Qirad Agreement Signing, Witnessed.

A Qirad agreement was signed at the 2nd SOUQ QAFILAH - Muamalah Madinah at Section 4, Bandar Baru Bangi.

ASAS - Assoc.of Shariah Advisor in Islamic Finance

Discourse with Dr.Aznan Hasan - President, ASAS
Venue: ISRA, Petaling Jaya

ASAS is the acronym for "The Association of Shariah Advisor in Islamic Finance".

Amongst matters discussed:-
* Development of the role of Shariah Advisor,
> from Advisor to Shariah Supervisory Board (SSB) to Shariah Advisory Council (SAC).
* Legislation
* Separation of Powers / Different Purviews of the BNM and Securities Commission SAC
* ASAS Objectives, Membership Criterias, Programmes and Way Forward

ASAS Office Bearers
PRESIDENT: Dr. Aznan Hasan
DEP. PRESIDENT: Dr. Ashraf Md. Hashim
SECRETARY: Dr. Rusni Hasan
DEP.SECRETARY: Dr. Asyraf Wajdi Dusuki
TREASURER: Dr. Akhtarzaite Abdul Aziz
EXCO Members:
Dr. Mohamad Akram Laldin
Dr. Abdul Rahman Awang
Ust. Suhaimi Yusuf

AHM Comments:
Amirul HM still remembers his first meeting with the Late Tan Sri Ahmad Ibrahim in 1995 which took place at IIUM, P.Jaya Main Campus then. The purpose of AHM visit was to ask for Tan Sri's recommendations as to suitable candidates to become Shariah Advisor(s) for a
financial institution intending to start the Islamic Banking Scheme then known as the Interest-Free Banking Unit(IBU) in which AHM was hired to set-up and

The end result, instead of 1...6 persons were hired I.e. 3 Shariah Scholars but with limited exposure to Banking operations and 3 Professors from the Kulliyyah of Economics and Management Sciences(KENMS),with limited working application of the usul al-fiqh. The whole intentions were for them to learn from each other strengths.

How things have changed.

WAQAF - Penjana Pembangunan Ummah

Seminar Wakaf: Penjana Pembangunan. Lokasi: Sasana Kijang, KL
Anjuran Bersama - IQRA' Foundation & INCEIF
Titah oleh Raja Muda Perak Raja Nazrin Shah.
Penceramah: Dr. Murat Cizakca (Contributions & Basic Operational Structure) & Tan Sri Muhammad Ali Hashim (Awqf Korporat)



Raja Nazrin Shah
>>>>>>>>>>>>>>>>
( 5 Ogos, 1957 )
7 WASIAT Raja-Raja Melayu semasa menurunkan tandatangan persetujuan Pembentukan Perlembagaan Persekutuan Tanah Melayu:-

" Kami isytiharkan dan kami simpan untuk kamu Dan kami benarkan kamu isytihar Dan simpan untuk anak cucu kamu, selain Gunung-Ganang, Tasik dan Hutan SimpanTANAH SIMPANAN MELAYU sehingga nisbah 50 peratus, selebihnya kamu rebutlah bersama-sama kaum lain ".



Tan Sri Muhammad Ali Hashim
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
> " WESTOXIFICATION", " Arnab & Kura-Kura", " Pigs & Dragons mentality in Japanese & Chinese culture".


Dr. Murat Cizakca
>>>>>>>>>>>>>>>>
The Turkish Model, the Giver CAN also become the trustee for the Waqaf created, the West had learnt from the early Islamic Civilisation and had "adjusted" the waqaf principle accordingly to set-up their own universities / learning institutions. Merton College in UK, is an example.

SOUQ Muamalah Madinah - Inaugural

The 1st ever National SOUQ MUAMALAH MADINAH took place in front of Rumah Aman, Shah Alam yesterday I.e. Saturday, 4th February 2011 from 10am - 6pm.

Basic Terminologies in a Souq:
SOUQ. = Market or, Bazaar
MUHTAHSIB = Enforcer or, Regulator
QAFILAH = Traders
WAKALAH. = Agent / Representative

The organisers of the Souq intended to re-introduce the way how the Souq were organised during Prophet's Muhammad SAW time in Madinah.

The Souq had more than 30 Qafilah and the Qafilah were not only local Klang Valley traders but came from as far away as Teluk Intan, Raub and even Perlis amongst other places. Apart from Malaysians, the Souq had visitors from Singapore, Indonesia, Phillippines and even Spain.

One of the more interesting products available in the Souq were non-crystalised honey from Russia which is good for people suffering from heart complications or, diabetes. A student studying medicine in Russia brought the honey and it was sold out by noon. Hence, it is not surprising then that camera crews from 2 TV stations were there to record the event. One crew were from the ISLAMiC FiNANCE programme , a new Business TV channel which just went on air on 1st December 2011 called "THE CAPITAL" available at Channel 127, Hypp TV-UNIFI whilst the other were shooting for the lifestyle "NONA Programme" aired on TV3.

It is expected that the next Souq MM will take place in Bangi, Selangor either in March or April.

Islamic Financing Contracts & Credit Evaluation - Discourse with Dato' Wan Ismail Wan Yusoh

" Islamic Financing Contracts & Credit Evaluation" was the topic chosen for today's interview for Episode 7 of ISLAMiC FiNANCE @ The Capital TV which will be aired on Thursday, 19 January 2012 @ 9pm.

The Guest Speaker for this episode is Dato' Wan Ismail Wan Yusoh from Bank Islam Malaysia Berhad, a 3-decade veteran of the Islamic Banking industry. My first "face-off" with him was almost 2-decades ago when I attended the 1st International Integrated Course on Islamic Banking and Finance held at Holiday Villa, Subang Jaya organised by Bank Islam.

Tun Mahathir Interview - Islamic Gold Dinar!

" Islamic Finance: The Gold Dinar " " was the topic chosen for this Exclusive Episode which was shot at the Perdana Leadership Foundation, Putrajaya on Monday, 16 January, 2012.

The Honourable Guest Speaker for this EXCLUSIVE is Tun Dr. Mahathir Mohamad, Statesman & the Fourth Premier of Malaysia.
I am the Host for this Exclusive...my 2nd "face-off" with him after 2000 during the MSC-IAP session at Mines.
Preview the Exclusive Episode at:- Capital TV Channel

The Capital TV is promoting this Special Episode as an EXCLUSIVE . Stay tuned to Channel 127, Hypp TV - UNIFI.

34th IBF Discussion Series: Legal Issues in Sukuk Issuance

The 34th Islamic Banking and Finance (34th IBF) Discussion Series was held on Friday, 12 Safar 1433Hijrah (6 January 2012) at the IIUM Institute of Islamic Banking and Finance(IIiBF) Damansara-KL Campus.

Topic for this series is " Legal and Beneficial Ownership in the Underlying Assets for Sukuk Issuance ". Dato Dr.Nik Norzrul Thani (Chairman & Senior Partner - ZICOlaw) and Madzlan Mohamed (Partner, ZICOlaw) co-presented.

Issues Highlighted:-
1) The difference between Legal and Beneficial Ownership
2) Asset-backed v. Asset-based in Sukuk Issuance
3) Legal "infrastructure" in Malaysia as opposed to other jurisdictions in Middle-East, London-UK and Victoria-Australia.
Using Malaysian laws as the Law of Reference as opposed to English Law
4) Case Study of 2 defaulting Sukuks I.e. Nakheel & TID
5) Syariah Governance

ISLAMiC FiNANCE@The Capital TV were there to cover the event and interviewed the Chairman of ZICOlaw on the sidelines of the Series.

The 34th IBF Discussion Series also marks the last official function for the outgoing IIiBF Dean i.e. Prof.Dato Dr.Mohd Azmi Omar who will be the new Director-General of IRTI in Jeddah. Prof. Dr. Abdul Rahim Abdul Rahman will be the new Dean.

This blog would like to take this opportunity to Congratulate Prof. Dato Dr.Mohd Azmi Omar and Prof. Abdul Rahim on their respective new appointments. We (blog & IF@The Capital TV) would also like to put on record our appreciation to the organisers for the kind invitation.

Interview with Dato' Mohd.Fadzli Yusof (for Ep.5, ISLAMiC FiNANCE@The Capital TV

In Episode 5, ISLAMiC FiNANCE @ The Capital TV interviewed Dato' Mohd. Fadzli Yusof (MFY).
View The Capital TV Youtube channel:- Episode 5 - ISLAMiC FiNANCE

Dato' Mohd. Fadzli is the Director & Principal Consultant of First International Consulting, Malaysia a company providing Islamic Finance Consulting & Advisory Services locally and internationally. He is also the Director for Arab-Malaysian Takaful ( a Jeddah-based Takaful operator) & Amana Takaful, Sri Lanka.
More importantly, MFY is the first ever CEO of a full-fledged (Life & General Islamic Insurance) Takaful company in the Modern World and in 2001 led Syarikat Takaful Malaysia Berhad to be listed on KLSE, the first ever Takaful company to be listed in the world. MFY has received many awards from the IF industry for being a pioneer since the late 70s/early80s in the Takaful industry. He is also the Author of 3 books, all on Takaful and is a Member of the Board of Trustees of The Sultan Mizan Royal Foundation.

MFY Comprehensive Biodata, refer:-
http://www.assaif.org/content/download/1393/9497/file/ITS2008%20-%20Dato%20Mohamed%20Fazli.pdf

The episode dealt with the History/Development of the Takaful industry in the late 70s/early 80s at a time where Islamic Insurance were virtually non-existent and what led the Malaysian government to initiate the establishment of the first ever comprehensive Takaful company in the modern world and how it was done.

Subsequently, the concept of Takaful were explored where amongst others the concept/contracts of Tabarru', Mudharabah & Wakalah were discussed. The interview ends with a discourse on the issues and stumbling blocks affecting the Takaful industry and some criticism on the present scenario.