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 knowhow 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.