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Hi and greetings from MIFC. Once again, we bring you a round-up of news in the world of Islamic finance. We hope you will enjoy reading it. Let us know if you have any feedback.

The MIFC Team.
Value-based intermediation to reinvigorate industry

After focusing on strengthening the foundations of Islamic finance for three decades, local market players are now delving deeper into the centuries-old financial system’s concept of egalitarianism and social justice. Read more view of the local player in the recent article by The Edge on the value-based intermediation concept that will be the catalyst to drive the sector forward.
ASEAN Capital Market Regulators Launch Professional Mobility Framework, Social and Sustainability Bond Standards
The ASEAN Capital Markets Forum (ACMF) launched a framework to facilitate cross-border movement of investment advisers, which will allow ASEAN investors greater access to professional services. The first phase of the ACMF Professional Mobility Framework is the introduction of the “ACMF Pass” which will allow licensed professionals to provide advisory services within participating ASEAN jurisdictions, with fast-track registration and no additional licensing requirements. The standards are intended to enhance transparency, consistency and uniformity of ASEAN green, social and sustainability bonds, which will reduce due diligence cost and assist global investors to make informed investment decisions. Read more.
Key Dates
Green, Social & Sustainability Bonds: A Practitioner's Perspective
26 OCT 2018
Kuala Lumpur, Malaysia.
Islamic Finance to Fund the United Nation’s Sustainable Development Goals
The Securities Commission Malaysia (SC) together with the United Nations Development Programme (UNDP) and the Islamic Development Bank (IsDB) hosted a forum on the sidelines of the 73rd UN General Assembly recently officiated by The Prime Minister of Malaysia Tun Dr. Mahathir Mohamad. The event was advocated the use of Islamic finance to close funding gaps in achieving the United Nation’s Sustainable Development Goals (SDGs). The SC, UNDP and IsDB have also committed to collaborate further to advance the use of Islamic finance in funding the SDGs through capacity building workshops, awareness initiatives and international dialogues specifically to promote green sukuk as a funding mechanism. Read more.
IsDB plans infrastructure funds for Africa and Asia
Islamic Development Bank (IsDB) plans to launch two funds focused on Africa and Asia next year, aiming to raise a combined USD1 billion to help fill a gap in infrastructure investment among its member countries. The new funds would help close a deficit in investments for projects such as transportation, energy and sanitation across the two regions. The IsDB estimates that in Africa, where more than half of its member countries are located, there is an annual public gap in infrastructure investments that exceeds USD87 billion. Read more.
Key Dates
Research & Data Analysis Training, Advanced Econometrics Techniques

27-28 OCT 2018
Batu Caves, Selangor,
New rulings on Takaful and re-takaful
The Shariah Advisory Council (SAC) of Bank Negara Malaysia at its recent meeting decided that the application of musyarakah contract between a retakaful operator and takaful operator in managing the expense strain of the latter arising from the implementation of ‘Minimum Allocation Rate’ requirement is permissible, however it is subjected to several conditions. Read more.
A framework to assess impact of Islamic finance on economy
The next stage for the development of Islamic finance is to provide a framework that allows for an assessment of its impact on the economy, said former Bank Negara Malaysia (BNM) governor Dr Zeti Akhtar Aziz. Islamic finance, which is now present in over 50 countries, with its total assets last year estimated to have surpassed the USD2 trillion mark, already generates a model for a sustainable financial intermediation that supports economic growth and development. Read more.
Working Papers on Select Topics in Islamic Economics, Banking and Finance
The Islamic Research and Training Institute (IRTI) has released six new working and policy papers on select germane issues in Islamic economics, banking and finance. The papers, comprising of five working papers and one policy paper, focus on key themes that include ownership and governance issues in sukuk financing, the need for early-warning system for Islamic banks, Islamic perspectives to profit entitlement, and effects of religiosity on multidimensional poverty. Read More.
Other Stories

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