Standard Murabahah T&C for Corporate

As part of CMTC's initiative to facilitate the development of Interbank market, CMTC has developed a standard T&C to allow existing corporate clients to place Commodity Murabahah deposits without re-executing the Corporate Murabahah Master Agreement (CMMA). The T&C will simplify the operational process and reduce the paper trail.

T & C drafted by M/s Illiyas and Co and circulated to members in December 2014.

Wakalah Interbank Investment Account

CMTC is developing product proposal for a new Islamic Interbank Money Market product that will replace the existing Mudharabah Interbank Investment, called Wakalah Interbank Investment Account ("WIN"). This product is required to comply with the recently issued Investment Account Guideline and the Islamic Financial Services Act 2013. Work is in progress, and target implementation date is June 2015.

Transitional Investment Account

Pursuant to issuance Investment Account Guideline and the Islamic Financial Services Act 2013, Mudharabah and Wakalah are reclassified under the Act under Investment. In searching for the best alternative to mobilise funds, AIBIM is developing a general parameter for product submission for members who are intending to offer investment account based on transactional operation.

Work is in progress, and the target completion date is February 2015 to members.

Public awareness

Wacana Kewangan Islam Kakitangan Kerajaan dan Jawatankuasa Masjid & Surau

As part of the continuous effort by AIBIM to promulgate Islamic Banking in Malaysia, The Association of Islamic Banking Institutions Malaysia (AIBIM) has teamed up with the Jabatan Hal Ehwal Agama Islam Kedah (JHEAIK) and JAKIM to co-organize an Islamic Banking Seminar to government and mosque officers in the state of Kedah on 25 May 2014. The seminar recorded 850 participants comprising of federal government officers and mosque administrators in the state of Kedah and surrounding areas.

National Symposium on Islamic Banking and Finance 2014

Association of Islamic Banking Institutes Malaysia (AIBIM) in collaboration with the Malaysian Bar Council and Advocates' Association of Sarawak (AAS) organized the National Symposium on Islamic Banking and Finance in Kuching, Sarawak on the 24th and 25th June 2014 with the aim to elevate the lawyers' knowledge on the new regulatory framework of Islamic banking and finance especially with the enforcement of Islamic Financial Services Act 2013 (IFSA).the National Symposium is a pre-requisite for lawyers to be on the panel list of AIBIM member banks and saw a total of 365 legal practitioners in Sarawak and Sabah attend the two-day symposium.

Conferences

Global Islamic finance Forum 2014

AIBIM was tasked with organizing the 4th Global Islamic Finance Forum (GIFF2014) by Bank Negara Malaysia. The event was held from 2-4 September2014 at Sasana Kijang, Bank Negara Malaysia. Themed Marketplace for Global Linkages GIFF 2014 acts as the premier networking & dialogue platform for all stakeholders in Islamic finance. GIFF 2014 also had other industry player such as Malaysian Takaful Association (MTA), IBFIM, ISRA and INCEIF and regulators i.e Bank Negara Malaysia, Securities Commission and MIFC do their events in conjunction with GIFF 2014.

GIFF 2014 saw a record attendance of 2006 delegates whereby 36% foreign delegates and 64% domestic comprising of Regulators, Shari'ah scholars and academics, Islamic Finance practitioners, Business & Corporate leaders. GIFF 2014 introduced a totally paperless concept where all materials from programme scheduling to presentation materials were can only be accessed via mobile app and website.

Kuala Lumpur Islamic Finance Forum

This prestigious annual event will gather a pool of industry experts ranging from regulatory authorities, Shariah scholars, bankers, legal practitioners, Takaful operators, consultants and academicians to share with the delegates their views and experiences in developing Islamic banking and finance around the globe. Held on annual basis, AIBIM is one of the key partners in driving this event, which entered its eleventh edition. AIBIM members banks participated by sending delegates and setting up exhibition booths.