Breadcrumb

Asset Publisher

null EPICENTRE November 2022: In the spotlight: GIFF 2022

Newsletter

EPICENTRE November 2022: In the spotlight: GIFF 2022
In the spotlight: GIFF 2022
 

AIBIM has successfully organised the Global Islamic Finance Forum (GIFF) 2022, one of Malaysia's Islamic finance flagship events, during the first week of October 2022. Themed “Take the Reins”, GIFF 2022 focuses on emerging developments in Islamic finance such as fintech and digitalisation, value-based innovation and global opportunities for the Islamic finance industry to promote balanced, inclusive and sustainable growth.  

This newsletter aims to give spotlight on key developments, initiatives and award conferment which were announced during the week, including:

  1. The Royal Award for Islamic Finance (RAIF) award recipient
  2. 2022 Emerging Leader and Impact Challenge Prize winners 
  3. Establishment of MIFC Leadership Council
  4. VBI Report Launch 
  5. VBIT Roadmap Launch
The MIFC Team
The Royal Award for Islamic Finance
The Royal Award for Islamic Finance 2022 was bestowed to Tan Sri Dr. Mohd Daud Bakar by the King of Malaysia, His Majesty the Yang di-Pertuan Agong at an award presentation ceremony held in Kuala Lumpur for his contributions to the development of the global Islamic finance industry.
 
Emerging Leader & Impact Challenge Prize
The Emerging Leader Prize, which recognises young international talent who have made outstanding contributions in advancing innovative ideas in the field of Islamic finance was awarded to Mr. Umar Abdullah Mahmud Munshi while the Impact Challenge Prize was awarded to duithape and Pod for their innovative solutions in Islamic finance.
MIFC Leadership Council
BNM and the Securities Commission Malaysia (SC) announced the establishment of the Malaysia International Islamic Financial Centre (MIFC) Leadership Council which will serve as a platform to provide industry stewardship in enhancing Malaysia’s proposition as a global marketplace and an international gateway for Islamic finance.
VBIT Roadmap
The Malaysian Takaful Association (MTA) launched the Value-based Intermediation for Takaful (VBIT) Roadmap, to complement the VBIT framework. The VBIT Roadmap, which entails action plans and expected deliverables, aims to assist the takaful industry players in implementing key initiatives to unlock the potential of the industry towards a more sustainable finance ecosystem. 
Download the infographic below for overview of VBIT Roadmap.
Speech

Three imperatives to ensure Malaysia Islamic finance to grow to its full potential

Governor of BNM highlighted three key imperatives that can facilitate ihsan in Islamic finance to ensure that it continues to provide strong support for "value-based growth" - need for a whole-of-ecosystem alignment to the values of Islamic finance, action-oriented leadership and strengthening connectivity for greater innovation and impact.
Read More
News

MLC Chairman, Azman Mokhtar on power of Islamic finance in addressing issues faced by society

"Finance has to serve the real economy, which in turn, must serve a progressive and just society most of all, and in it, is our role and moral duty to demonstrate the power of Islamic finance in addressing the biggest challenges facing society today."
Read More
News

Opportunities and challenges to further strengthen the intermediation roles of the IFM

The Malaysian Islamic Financial Market Roundtable Discussion was held to take stock on the state of development of the Islamic Financial Market (IFM) in Malaysia, as well as to discuss opportunities and challenges to further strengthen the intermediation roles of the IFM, particularly in sustainability space and utilizing Islamic social finance instruments.
Read More
News

BNM further advancing financial inclusion

Bank Negara Malaysia (BNM) recently launched the official logo of the iTEKAD programme, a blended social finance programme to support low-income microentrepreneurs with five new participating financial institutions to the programme.
Read More
News

Sukuk Prihatin, Malaysia’s first digital sukuk has been fully redeemed

The government announced the maturity of its two-year Sukuk Prihatin, which has been fully redeemed on September 22, 2022. The issuance had to be upsized by RM166.42 million with a final total subscription value of RM666.42 million.
Read More
Speech

Malaysia's Islamic fintech reaches maturity, will continue to grow - AIBIM

Malaysia is actively cooperating with nine countries for the development of the halal industry ecosystem framework to accelerate economic cooperation and integration between countries and connectivity between regional markets. 
Read More
News

Global sukuk issuance to fall to USD160b in 2022 amid high interest rates

Global sukuk issuance is expected to fall to USD160 billion to USD170 billion this year, down from USD181 billion in 2021 and a record USD205 billion in 2020, according to Moody’s Investors Service.
Read More
Upcoming Events
If you have enjoyed this issue of Epicentre or found it useful, feel free to forward it to a colleague or friend. If this newsletter was forwarded to you, and you would like to be added to the mailing list, subscribe here
www.mifc.com
@MalaysiaIF
Email MIFC
Malaysia World's Islamic Finance Marketplace
Copyright © 2022 Bank Negara Malaysia. All rights reserved.
Please log on to www.mifc.com for more information. 

 
DISCLAIMER: The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: www.mifc.com. Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.