WAQAF - Penjana Pembangunan Ummah

Seminar Wakaf: Penjana Pembangunan. Lokasi: Sasana Kijang, KL
Anjuran Bersama - IQRA' Foundation & INCEIF
Titah oleh Raja Muda Perak Raja Nazrin Shah.
Penceramah: Dr. Murat Cizakca (Contributions & Basic Operational Structure) & Tan Sri Muhammad Ali Hashim (Awqf Korporat)



Raja Nazrin Shah
>>>>>>>>>>>>>>>>
( 5 Ogos, 1957 )
7 WASIAT Raja-Raja Melayu semasa menurunkan tandatangan persetujuan Pembentukan Perlembagaan Persekutuan Tanah Melayu:-

" Kami isytiharkan dan kami simpan untuk kamu Dan kami benarkan kamu isytihar Dan simpan untuk anak cucu kamu, selain Gunung-Ganang, Tasik dan Hutan SimpanTANAH SIMPANAN MELAYU sehingga nisbah 50 peratus, selebihnya kamu rebutlah bersama-sama kaum lain ".



Tan Sri Muhammad Ali Hashim
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
> " WESTOXIFICATION", " Arnab & Kura-Kura", " Pigs & Dragons mentality in Japanese & Chinese culture".


Dr. Murat Cizakca
>>>>>>>>>>>>>>>>
The Turkish Model, the Giver CAN also become the trustee for the Waqaf created, the West had learnt from the early Islamic Civilisation and had "adjusted" the waqaf principle accordingly to set-up their own universities / learning institutions. Merton College in UK, is an example.

SOUQ Muamalah Madinah - Inaugural

The 1st ever National SOUQ MUAMALAH MADINAH took place in front of Rumah Aman, Shah Alam yesterday I.e. Saturday, 4th February 2011 from 10am - 6pm.

Basic Terminologies in a Souq:
SOUQ. = Market or, Bazaar
MUHTAHSIB = Enforcer or, Regulator
QAFILAH = Traders
WAKALAH. = Agent / Representative

The organisers of the Souq intended to re-introduce the way how the Souq were organised during Prophet's Muhammad SAW time in Madinah.

The Souq had more than 30 Qafilah and the Qafilah were not only local Klang Valley traders but came from as far away as Teluk Intan, Raub and even Perlis amongst other places. Apart from Malaysians, the Souq had visitors from Singapore, Indonesia, Phillippines and even Spain.

One of the more interesting products available in the Souq were non-crystalised honey from Russia which is good for people suffering from heart complications or, diabetes. A student studying medicine in Russia brought the honey and it was sold out by noon. Hence, it is not surprising then that camera crews from 2 TV stations were there to record the event. One crew were from the ISLAMiC FiNANCE programme , a new Business TV channel which just went on air on 1st December 2011 called "THE CAPITAL" available at Channel 127, Hypp TV-UNIFI whilst the other were shooting for the lifestyle "NONA Programme" aired on TV3.

It is expected that the next Souq MM will take place in Bangi, Selangor either in March or April.

Islamic Financing Contracts & Credit Evaluation - Discourse with Dato' Wan Ismail Wan Yusoh

" Islamic Financing Contracts & Credit Evaluation" was the topic chosen for today's interview for Episode 7 of ISLAMiC FiNANCE @ The Capital TV which will be aired on Thursday, 19 January 2012 @ 9pm.

The Guest Speaker for this episode is Dato' Wan Ismail Wan Yusoh from Bank Islam Malaysia Berhad, a 3-decade veteran of the Islamic Banking industry. My first "face-off" with him was almost 2-decades ago when I attended the 1st International Integrated Course on Islamic Banking and Finance held at Holiday Villa, Subang Jaya organised by Bank Islam.

Tun Mahathir Interview - Islamic Gold Dinar!

" Islamic Finance: The Gold Dinar " " was the topic chosen for this Exclusive Episode which was shot at the Perdana Leadership Foundation, Putrajaya on Monday, 16 January, 2012.

The Honourable Guest Speaker for this EXCLUSIVE is Tun Dr. Mahathir Mohamad, Statesman & the Fourth Premier of Malaysia.
I am the Host for this Exclusive...my 2nd "face-off" with him after 2000 during the MSC-IAP session at Mines.
Preview the Exclusive Episode at:- Capital TV Channel

The Capital TV is promoting this Special Episode as an EXCLUSIVE . Stay tuned to Channel 127, Hypp TV - UNIFI.

34th IBF Discussion Series: Legal Issues in Sukuk Issuance

The 34th Islamic Banking and Finance (34th IBF) Discussion Series was held on Friday, 12 Safar 1433Hijrah (6 January 2012) at the IIUM Institute of Islamic Banking and Finance(IIiBF) Damansara-KL Campus.

Topic for this series is " Legal and Beneficial Ownership in the Underlying Assets for Sukuk Issuance ". Dato Dr.Nik Norzrul Thani (Chairman & Senior Partner - ZICOlaw) and Madzlan Mohamed (Partner, ZICOlaw) co-presented.

Issues Highlighted:-
1) The difference between Legal and Beneficial Ownership
2) Asset-backed v. Asset-based in Sukuk Issuance
3) Legal "infrastructure" in Malaysia as opposed to other jurisdictions in Middle-East, London-UK and Victoria-Australia.
Using Malaysian laws as the Law of Reference as opposed to English Law
4) Case Study of 2 defaulting Sukuks I.e. Nakheel & TID
5) Syariah Governance

ISLAMiC FiNANCE@The Capital TV were there to cover the event and interviewed the Chairman of ZICOlaw on the sidelines of the Series.

The 34th IBF Discussion Series also marks the last official function for the outgoing IIiBF Dean i.e. Prof.Dato Dr.Mohd Azmi Omar who will be the new Director-General of IRTI in Jeddah. Prof. Dr. Abdul Rahim Abdul Rahman will be the new Dean.

This blog would like to take this opportunity to Congratulate Prof. Dato Dr.Mohd Azmi Omar and Prof. Abdul Rahim on their respective new appointments. We (blog & IF@The Capital TV) would also like to put on record our appreciation to the organisers for the kind invitation.

Interview with Dato' Mohd.Fadzli Yusof (for Ep.5, ISLAMiC FiNANCE@The Capital TV

In Episode 5, ISLAMiC FiNANCE @ The Capital TV interviewed Dato' Mohd. Fadzli Yusof (MFY).
View The Capital TV Youtube channel:- Episode 5 - ISLAMiC FiNANCE

Dato' Mohd. Fadzli is the Director & Principal Consultant of First International Consulting, Malaysia a company providing Islamic Finance Consulting & Advisory Services locally and internationally. He is also the Director for Arab-Malaysian Takaful ( a Jeddah-based Takaful operator) & Amana Takaful, Sri Lanka.
More importantly, MFY is the first ever CEO of a full-fledged (Life & General Islamic Insurance) Takaful company in the Modern World and in 2001 led Syarikat Takaful Malaysia Berhad to be listed on KLSE, the first ever Takaful company to be listed in the world. MFY has received many awards from the IF industry for being a pioneer since the late 70s/early80s in the Takaful industry. He is also the Author of 3 books, all on Takaful and is a Member of the Board of Trustees of The Sultan Mizan Royal Foundation.

MFY Comprehensive Biodata, refer:-
http://www.assaif.org/content/download/1393/9497/file/ITS2008%20-%20Dato%20Mohamed%20Fazli.pdf

The episode dealt with the History/Development of the Takaful industry in the late 70s/early 80s at a time where Islamic Insurance were virtually non-existent and what led the Malaysian government to initiate the establishment of the first ever comprehensive Takaful company in the modern world and how it was done.

Subsequently, the concept of Takaful were explored where amongst others the concept/contracts of Tabarru', Mudharabah & Wakalah were discussed. The interview ends with a discourse on the issues and stumbling blocks affecting the Takaful industry and some criticism on the present scenario.

of Shadow Play...Proxy Battles and One's Ego!!!

The last Quarter of 2011 was an interesting one from this Blog's Weltanschauung!
Ever since, a Content Advisory mandate for an Islamic Finance programme were accepted by AHM CREATES for a media company...members of the IF industry would just divulge more info to a certain Consultant Producer than what is normally revealed during "normal" conversation.

In November, the 5th International Islamic Capital Market Forum was held at Lanai Kijang, KL. What was interesting was the wordings in the Forum's flyers - "....., where much of its product structures essentially replicates that of conventional finance. These structures have been based on debt-based contracts and leverage; and are further exposed to the fractional reserve banking system. ........"

Read 2nd Page, 4th Para:-
http://www.sc.com.my/eng/html/icm/iicmf/iicmf_2011.pdf

To the uninitiated, Islamic Finance purists had slowly but surely over the years put forward the argument that debt-based contracts is NOT the way forward for IF but rather equity-based contracts. The purists had also indicated that Fractional Reserve Banking is " BACKDOOR RIBA" !!!

A week later, the Tun Ismail Ali Chair Public Lecture was held at Sasana Kijang, KL. The topic for the lecture was "Conceptual & Analytical Issues on IF from the Perspective of Conventional Economic ".

Not mincing his words, Prof.Emeritus Ajit Singh said during the Press Conference - "....it is difficult to differentiate between speculative and non-speculative elements in the share market. Hence, close down the market(s) and let the banks step in......."

It might just be a coincidence and critics would accuse the writer of making a mountain out of a mole hill BUT, to the keen observer....this academic banter sure sounds like "shadow play" between the regulators. Add to the grapevines that representations have been made to the powers that be to have a nominee from the Central Bank to head the SC once the existing Chairman's tenure is over and one can see why the fireplace is starting to smoke!!!

On another matter, it's sad that someone's ego gets in the way of propagating Islamic Finance and ultimately Islam. This was what happened when a person of authority cancelled an interview which was supposed to publicise the respective institution Islamic Finance courses and ultimately Islam itself!