INCEIF’S 12TH INTELLECTUAL DISCOURSE – MALAYSIAN ECONOMY DIVERSIFIED, RESILIENT AND GROWING

“Over 100 Participants Comprising Regulators, Finance Industry Heads and Academicians Attended The INCEIF Intellectual Discourse Session 2016 on ‘The Debt Menace, Risk Sharing and Opportunities For Islamic Finance’

Kuala Lumpur – 28 January, 2016 – INCEIF (International Centre for Education in Islamic Finance), ‘The Global University Of Islamic Finance’, today hosted the 12th instalment of the ‘Intellectual Discourse Sessions,’ an open-to-all panel discussion featuring the world’s leading economic minds, tackling, debating and discussing today’s hot topics in global economics. The 2016 session was headlined, “The Debt Menace, Risk Sharing and Opportunities For Islamic Finance.”

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Dzalin Ayub, Chief Operating Officer of INCEIF, said: “INCEIF’s primary functions are to deliver the best human capital in Islamic Finance and to lead the research and thinking that will drive the Islamic Finance industry forward, identifying opportunities and defining trends. These discourse sessions are essential platforms to not only explore current national / global economic issues but also to share with our audiences the best thinking from the best minds in the world of economics.”

Leading the panel this year was Lord Adair Turner – Former Chairman of the Governing Board of the United Kingdom Financial Services Authority (FSA) and visiting professor at INCEIF – and Dr. Abbas Mirakhor, the first holder of the INCEIF Chair of Islamic Finance.

Speaking at the event, Lord Adair Turner, said: “The Malaysian economy, like other major commodity producers, is being significantly influenced by [global] falls in commodity prices; however, Malaysia is in a better position than many other countries because it is less reliant on commodities alone. It has a more diversified economy and has continued to grow. 

“The fall in oil prices has had an impact, but Malaysia has approached the challenges it faces, taking significant steps toward the diversification of its economy and is therefore less vulnerable and better placed than very many other countries. One of the reasons for this is because unlike some significant global markets that have run large budget deficits, Malaysia has enjoyed a sustained period of running a capital accounts surplus. Capital flows and exchange rates are obviously volatile around the world, but Malaysia has some significant trends that make it more likely to deal with the turbulence well,” Lord Adair added.  

“Against the backdrop of a slow and staggered global economic recovery, with continued vulnerabilities and uncertainties, INCEIF and the Islamic Finance industry is openly and candidly addressing the current state of the global economy; we are analysing post global financial crisis reforms and policies and assessing the appeal and upward trajectory of Islamic finance – both globally and locally in Malaysia. We believe his Lordship’s deep insights are as scholarly to academia as they are tenants for a more resilient financial services sector, and his status as an INCEIF visiting professor, partner and affiliate will offer both our students and industry-partners fresh insights to help gain a competitive advantage, while promoting and cultivating the Islamic finance sector,” added Mr. Dzalin Ayub.

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