Malaysia as The Global Hub For Fund Administration

Kuala Lumpur, 25 May 2016 – BNP Paribas – INCEIF Centre for Islamic Asset and Wealth Management (CIAWM) today held a public lecture, “Malaysia As The Global Hub For Fund Administration – Potential and Challenges.”

The global AUM is expected to exceed $100 trillion by 2020. Asset managers are already outsourcing more due to technology that is changing the way of doing business, the cost effectiveness, focussing on core activities and many drivers towards preference for outsourcing fund administration activities. There are currently 75 asset management agencies in Malaysia managing assets totalling RM668.50 billion. Assets under management (AUM) is projected to rise from RM377.4 billion in 2010 to RM1.6 trillion in 2020.This provides opportunity for Malaysia to tap this potential to become a global hub for fund administration, provided it can support with a strong legal, tax and audit ecosystem, and provide a wide area of financial services important for creating a sustainable business environment. This event intends to look into the possibility of Malaysia harvesting this potential.

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The speakers at the public lecture today are:

  • Employees Provident Fund CEO Datuk Shahril Ridza Ridzuan who spoke on “ntroducing Simpanan Shariah (EPF’s Islamic Savings)”
  • BNP Paribas Securities Services Head of Product Management, Asset and Fund Services Asia Mr Remi Toucheboeuf who spoke on “Islamic Fund Services: The Next Frontier”
  • PricewaterhouseCoopers (Singapore) Asia-Pacific Private Banking and Asset Management Leader Mr Justin Ong who spoke on “A Recipe for Success – Creating a World Class Fund Administration Centre”.
  • Islamic Capital Market Securities Commission Executive Director Mr Zainal Izlan Zainal Abidin who spoke on “Developing Fund Administration Services as part of the Funds Industry Value Chain”.

Chairman of BNP Paribas Malaysia Dato’ Abdullah Mat Noh and INCEIF Pro-Chancellor Dr Rozali Mohamed Ali also spoke briefly at the start of the lecture to welcome the 130 participants who are from the industry and academia.

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