BNP Paribas-INCEIF Centre for Islamic Wealth Management (CIWM) today presented its second public lecture. The speaker, Executive Chairman of the Securities Commission Malaysia (SC) Datuk Ranjit Ajit Singh, spoke on `Positioning Malaysia as an Islamic Wealth Management Marketplace -A Regulator’s Perspective’.
Datuk Ranjit Singh delivering his lecture ‘Positioning Malaysia as an Islamic Wealth Management Marketplace – A Regulator’s Perspective’.
Islamic finance has registered strong growth over the past decade and has broadened its reach by gaining presence in an increasing number of jurisdictions across the globe. With the steady progress achieved in the three main segments of Islamic finance, namely Islamic capital market, Islamic banking and Takaful, the natural progression for its next phase of growth will be the development of the Islamic wealth management industry. Malaysia, as a leading Islamic financial centre, is well-positioned to spearhead the initiatives in developing a comprehensive and robust ecosystem in order to act as the global marketplace for the Islamic wealth management industry. Nevertheless, sustained growth of the industry globally will require strong commitment and coordination among all major stakeholders, domestic and international, including the regulators.
In the lecture, Datuk Ranjit shared his perspectives on the prospects for the Islamic wealth management industry, Malaysia’s role in this area, and the regulatory and other challenges that need to be addressed to facilitate the development of this industry and harness the opportunities it has to offer.
Prior to the lecture, INCEIF Chief Academic Officer Datuk Prof Syed Othman Alhabshi delivered the welcome remarks followed by the opening remarks by BNP Paribas Malaysia CEO Krishna Chetti.
ABOUT THE SPEAKER
Datuk Ranjit Ajit Singh, who has over 20 years’ experience in the field of finance and securities regulation, has played a key role in international securities regulatory policy work. He is a member of the governing Board of the International Organisation of Securities Commissions (IOSCO), the global body of securities regulators. He is also the Chairman of IOSCO’s Growth and Emerging Markets Committee (GEM) with 86 members worldwide. As Chair, Datuk Ranjit will also represent the GEM at the Financial Stability Board.
He currently chairs the Securities Industry Development Corporation, the Malaysian Venture Capital Development Council and the Capital Market Development Fund. He is also the Vice-Chairman of the Asian Institute of Finance and a member of the Board of the Labuan Financial Services Authority and the Financial Reporting Foundation.
Datuk Ranjit is trained as a financial economist and accountant. He holds a Bachelor of Economics (Honours) degree and a Master of Economics degree in Finance from Monash University Melbourne. He was also conferred the degree of Doctor of Laws honoris causa by Monash University Melbourne. He is a fellow of CPA Australia. He has had prior working experience in Australia and Malaysia in academia, consulting and accounting.