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Salam and greetings from MIFC
 
The April's edition of epicentre is here again with a round-up of exciting news in the world of Islamic finance, including several news and insights on Waqf. The MIFC Team also produced an infographic on Waqf and myWakaf initiative for your reference to better understand the re-distributive instruments that could address poverty issue as well as promote social justice within the community and subsequently increase the potential for a more balanced economic growth.

The MIFC Team
Waqf and myWakaf Initiative
View Infographic
Contribute and learn more about myWakaf here
News

Waqf act to be tabled in Parliment by end year

An act for Waqf is expected to be tabled in the Malaysian Parliament by year end to better manage endowment funds in the country.  The draft for the act has been completed and was currently going through reviews by various ministries including the Ministry of Finance (MOF).
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News

IFSB Admits Two Organisations into Membership

The Council of the IFSB has today resolved to approve the admission of two organisations into the IFSB membership. These include one supervisory authority as an Associate and one market player as an Observer Member.
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News

Enhancing Financial Inclusion through Islamic Finance and FinTech

As a global pioneer in Islamic finance, Malaysia aims to harness the growth of Islamic finance and FinTech to enhance financial inclusion and open up access to financial services for the underserved individuals as well as MSMEs.
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Report

Malaysian Islamic banks’ momentum likely to continue in 2019

Financing growth in Malaysia's Islamic banking sector is likely to continue to surpass that of conventional loans as banks prioritise offerings of Islamic banking products over conventional ones, says Fitch Ratings in a new report.
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News

Bank Negara Malaysia's SAC findings on Islamic finance binding on civil courts

In a landmark decision, the Malaysian Federal Court ruled that findings on Islamic finance by Bank Negara Malaysia's Shariah Advisory Council (SAC) is binding on civil courts. 
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Article

Empowering Islamic finance SRI via Waqf

One of the areas that offer vast potential is the development of Waqf, an Islamic philanthropic vehicle which both Muslims and non-Muslims can participate for social development, public good and wealth distribution. 
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News

myWakaf expects to collect RM10 million in 3 years

The Malaysia's myWakaf initiative is expected to collect more than RM10 million (USD2.4 million) in funds over a three-year period in line with its plan to further expand projects for needy groups in cooperation with State Islamic Religious Councils nationwide.
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News

Consider waqf funding to improve house ownership

More banks should consider waqf funding to improve affordable housing ownership by collaborating with stakeholders, houses built on waqf arrangement may be sold at affordable pricing.
 
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Islamic Finance Library
Islamic Finance Dashboard
Calendar of Events
Sukuk: Structuring & Issuing Course
Date: 15-16 May2019
Venue: Kuala Lumpur, Malaysia

For more information please click here

Islamic Finance InnoFest 2019: Call for innovative ideas
Idea Pitch Submission: 24 May 2019
For more information please click here

 
Other News
  1. INCEIF receives `The Most Outstanding Islamic Finance Education and Research’ award
  2. Outlook and Prospects of Djibouti’s Islamic Financial Industry
  3. Improved regulations spur Takaful growth
  4. Islamic social finance crowdfunder aims to double funds raised
  5. ICD invests USD230M in various sectors in Egypt
  6. DIEDC Expands Footprint to Far East, Signs Agreement with HKTDC
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