Shariah RFP designation helps in Islamic wealth management

Shariah RFP designation helps in Islamic wealth management

KUALA LUMPUR, April 21 — The Shariah RFP designation was first launched by the Government in the year 2008 and has continued to be well received in the Malaysian marketplace.

Front line service officers who deals with financial advisory for members of the public in Agensi Kaunseling & Pengurusan Kredit (AKPK) and the Retirement Advisory Service (RAS) of Employees Provident Fund, a service that is available for free in all EPF branches hold the Shariah RFP or the conventional RFP designation.

Sharifatul Hanizah, Executive Director, Islamic Capital Market Development in her welcoming remarks highlighted that “to enhance professionalism in the financial planning industry, it is imperative to raise the bar on professional standards and conduct requirements”, she says.

“The financial planning industry’s asset – trust – can be significantly undermined by poor conduct and affect sustainability of business”, she added.

Shariah syllabus

As Malaysia is at the forefront of the Islamic wealth management space, a sufficient number of human capital is required for the industry. In this regard, as a further impetus to help the sector grow, the Government provides tax exemption for the study of Islamic finance professional designations.

MFPC’s president, Vincent Kwo said that MFPC is continuously developing its Shariah syllabus which is made possible through partnerships with leading Shariah Islamic scholars in the country which could contribute to Malaysia’s aim to continue being a leading Islamic financial education centre.

The Malaysian Financial Planning Council (MFPC) held its 9th inception of the conference of Islamic Wealth Management today with the theme “Post Pandemic Transformation: Aligning Focus and Accessing Impact” which was attended by over 900 attendees from Malaysia, Indonesia, Singapore and some leading Islamic financial markets.

By featuring well know names who have reputable background in Islamic financial industry, the key objectives of the 9th MFPC conference serves as a thought-provoking platform to discuss impact of the Covid-19 and the practical applications an individual can undertake in recovering.

Malaysian Financial Planning Council

The Malaysian Financial Planning Council (MFPC) was set up in in 2004 with the objective of promoting nationwide development and enhancement of the financial planning profession.

Its mission now includes raising the financial literacy of all Malaysians by being at the forefront of raising Malaysians’ financial literacy.

This reflects our corporate social responsibility to the rakyat and the nation and underscores our initiatives to meet the crucial need to elevate financial knowledge among Malaysians, many of whom are struggling to meet everyday living needs. (Bernama)