Kuala Lumpur, 19 September 2012 – BNP Paribas Malaysia Berhad and INCEIF, The Global University Of Islamic Finance, today launched the “BNP Paribas-INCEIF Centre for Islamic Wealth Management”, an event witnessed by Bank Negara Malaysia (BNM) Governor YBhg Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz.
The launch was held on the sideline of GIFF (Global Islamic Finance Forum) 2012, a biannual BNM event which attracted more than 400 local and international participants. BNP Paribas Malaysia Berhad CEO Mr Krishna Chetti and INCEIF President & CEO Mr Daud Vicary Abdullah exchanged the Memorandum of Agreement (MoA) to commemorate the launch witnessed by BNP Paribas Malaysia Berhad Chairman Dato Abdullah Mat Noh, BNP Paribas Malaysia Berhad Board Member En. Halim Bin Din, Deputy CEO of BNP Paribas Investment Partners APAC, Mr Vincent Camerlynck and INCEIF Board Member Dr. Rozali Mohammed Ali.
This significant collaborative effort between a global bank with a strong local presence and a university aiming to be a thought leader in Islamic Finance education augurs well for Malaysia as the country seeks to become an internationally recognised hub for Islamic wealth management.
“BNP Paribas is honoured to be a part of this landmark collaboration with INCEIF which reaffirms our commitment to Malaysia. Through this research centre, BNP Paribas hopes to contribute towards the growth of the Islamic Finance sector in Malaysia and the region, as Malaysia is a strategic hub for BNP Paribas’ Islamic Banking business in Asia-Pacific. In June 2012, BNP Paribas Malaysia Berhad launched its Islamic banking window under the “Najmah” brand, complementing our existing Islamic finance activities in Asset Management and international banking in Malaysia. We are serious and committed to build a solid base in Kuala Lumpur, with a strong focus on cross border. To succeed, talent development is crucial and we are looking forward to making a contribution to the industry” said Krishna Chetti, Chief Executive Officer, BNP Paribas Malaysia Berhad.
The research centre, located on INCEIF’s Campus in Kuala Lumpur, is dedicated to research and development in the area of Islamic wealth management, asset management and capital markets. The centre aims to be a catalyst of innovation in the nascent area of Islamic wealth management by enhancing the knowledge and know-how of players, including practitioners, Shariah scholars, students, investors and the public, towards the development of a wider and diversified range of financial products and solutions.
The scope of the centre is aligned to support the growth of the Islamic wealth management industry that can offer innovative financial solutions to meet the more sophisticated investment demands of the increasingly affluent population particularly in Asia and the Middle East, thus positioning Malaysia as a regional and international centre for Islamic fund and wealth management, as stated in the Financial Sector Blueprint of Bank Negara Malaysia.
The above objectives will be achieved through activities such as undertaking applied research in specialized Islamic wealth management areas, conducting workshops, conferences, roundtable discussions etc. Vocational training is also part of the agenda of the centre. BNP Paribas Malaysia will provide the financial grant to the centre to fund research as well as to publish works on Islamic wealth management.
BNP Paribas-INCEIF Centre for Islamic Wealth Management will officially begin its operations from 1st October 2012.
INCEIF, the acronym for International Centre for Education in Islamic Finance, was set up by Bank Negara Malaysia in 2005 with the mission of developing human capital for the global Islamic finance industry. Along with its academic programmes, today, INCEIF offers executive education, research, consulting and knowledge management services which are in line with its vision to be a knowledge leader in Islamic finance.
About BNP Paribas Malaysia
BNP Paribas has been present in Malaysia since 1973. In the 90’s, BNP Paribas opened the Labuan Offshore Banking Unit and started its Corporate Finance and Equities Research activities. In 2007, BNP Paribas set up its Asset Management activities, including Islamic Asset Management. In 2011, the Bank obtained its full banking licence in Malaysia, marking 40 years of continuous expansion in the country.
BNP Paribas Malaysia Berhad became fully operational on 1 June 2011 with local capabilities across all Corporate and Investment Banking products and services, including Debt Capital Markets, in both conventional and Islamic banking.
About BNP Paribas Najmah Malaysia
In 2012, BNP Paribas launched its dedicated Islamic Banking platform in Malaysia within its locally incorporated banking subsidiary BNP Paribas Malaysia Berhad. The Kuala Lumpur based team has the mandate to support all businesses and coverage teams in Asia Pacific to develop and offer Islamic finance solutions. The Malaysian platform works closely with BNP Paribas Najmah Bahrain.
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