The event had 4 lectures from industry experts on issues surrounding the areas of Fund Administration. The participants were from various background; academic, asset managers, legal practitioners and bankers among others. The topics covered were Shariah Based savings (Simpanan Shariah), Islamic Fund Services, Developing Fund Administration and on what it takes for Malaysia to become a global centre for Fund Administration.
The four invited speakers were:
Datuk Shahril Ridza Ridzuan
CEO of Employees Provident Fund
Mr Remi Touchebeouf
Head of Product Management, Asset and Fund Services Asia,BNP Paribas Securities Services
Mr Zainal Izlan Zainal Abidin
Executive Director of Islamic Capital Market from Securities Commission
Mr Justin Ong
Asia-Pacific Private Banking and Asset Management Leader from PricewaterhouseCoopers, Singapore. Media: Bernama
This forum was organised by INCEIF – BNP Paribas Centre for Islamic Asset and Wealth Management (CIAWM) to share knowledge with the industry on the potential and challenges for Malaysia to be the global hub for Fund Administration. The event started at 9.00am with the opening remarks by Dato’ Abdullah Mat Noh, Chairman of BNP Paribas Malaysia and Dr Rozali Mohamad Ali, Pro-Chancellor of INCEIF.
The first session of the lecture was presented by Datuk Shahril Ridza Ridzuan, CEO of Employees Provident Fund on Introducing Simpanan Shariah (EPF’s Islamic savings). He introduced to the participants the features of the new Shariah scheme initiated by EPF to fulfil the increase in demand for Islamic investments. He presented the details highlighting the implications of Simpanan Shariah not only on Malaysia but also to the global finance industry. His lecture was well received by the audience mainly with Q&A on the risk involved, expected outcome of Simpanan Shariah, research team involved and other details related to this new initiative by EPF.
Mr Remi Touchebeouf, Head of Product Management, Asset and Fund Services Asia, BNP Paribas Securities Services presented a paper on Islamic Fund Services: The Next Frontier. Giving the perspective from a private sector, highlighting the growth of Islamic Fund Service. Among the topics discussed were fund accounting, the critical nature of today’s funds environment, benefits and opportunities of Islamic funds and Malaysia as a global hub for Shariah investments, among others.
Mr Zainal Izlan Zainal Abidin, Executive Director of Islamic Capital Market from Securities Commission (SC) delivered a paper on Developing Fund Administration Services as Part of the Funds Industry Value Chain, explaining the ecosystem of the fund and wealth management industry. He presented and compared the major funds in the industry such as global mutual funds, global Islamic funds and AUM of Malaysia’s fund to show the relationship of all the funds with the growth of the industry value chain. He also introduced the audience to the country’s internationalisation agenda as international marketplace for Islamic fund and wealth management, SC’s masterplan in capital market and future trends and opportunities in this area.
Mr Justin Ong, Asia-Pacific Private Banking and Asset Management Leader from PricewaterhouseCoopers, Singapore delivered the lecture on ‘A Recipe for Success – Creating a World Class Fund Administration Centre. This lecture enlightened the audience on the current state of the fund industry today and fund administration would be perceived in terms of its success. He shared tips on how to become a successful fund administration hub and what needs to be done to make Malaysia a world class fund administration centre.
This event attracted a total of 124 participants from various backgrounds both from the industry and the academia.