Saturday, February 19, 2011

Islamic Finance 101

ARI wishes to thank Mr Roslan Abdul Razak, Director, Training and Professional Development of IBFIM (an associate agency of the Central Bank of Malaysia) for accepting our invitation to give a half-day training on Islamic Finance. The training, appropriately named "Islamic Finance 101" provides some very basic understanding on the evolution and dvelopment of Islamic Finance in Malaysia. We were also introduced to some very basic and general terms and glossaries often used in Islamic Finance transactions. The training was attended by all ARI fellows, post graduate students and other ARI associate members. Operating in a dual banking system, Islamic Finance in Malaysia provides the right "footing" for Malaysia to be the global Islamic Finance Hub. Today, Islamic finance is operating in more than 300financial institutions and in more than 80 takaful operators globally. With some very impressive statistics such as: (i) Estimated size of Islamic Assets of more than USD$1.0 Trillion; (ii) Global market capitalisation of DJIMI worth more than USD 10 trillion; (iii) 350 Shariah-compliant funds established globally; (iv) Islamic finance growth of 15% to 35% globally, Islamic finance has enormous potential in business opportunities....

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