INCEIF Continues To Provide Islamic Finance and Banking Courses for MTCP

Kuala Lumpur – INCEIF recently organised two short courses for participants of the Malaysian Technical Cooperation Programme (MTCP). The courses were:

  • Third Country Training Programme (TCTP): Islamic Microfinance Programme in collaboration with JICA (Japan International Cooperation Agency) Malaysia and MTCP (11th – 22nd March 2019 in Kuala Lumpur). TCTP is a scheme in which JICA provides participants from developing countries with a technical training program in collaboration with a Southern partner (= third country) for the purpose of transfer or sharing of development experiences, knowledge and technology.
  • MTCP Risk Management for Islamic Financial Institutions (IFIs): Taking Stock of Risk as a Mean to Enhance Value of the Business, (29th July – 2nd August 2019 in Kuala Lumpur)

A total of 32 participants including those from Azerbaijan, Egypt, Palestine, The Philippines and Kyrgyzstan took part in the courses. The participants are senior officials of government department related financial management as well as those from regulatory bodies overseeing conventional/Islamic financial institutions.

The 10-day programme with JICA and MTCP was an introduction to Islamic microfinance and organised solely for representatives from Palestine Monetary Authority and micro finance institutions (MFI) in Palestine. The programme introduced the 14 participants to the fundamentals of Islamic Finance, challenges facing its implementation and potential solutions in practical application, regulation and risk. The training for the key staff members of the Palestinian institutions aimed to develop their knowledge and capacity for the development of the MFI sector in Palestine.

The five-day MTCP Risk Management for IFIs sought to refresh and develop participants’ understanding of risk through lectures, discussions and case studies. The 18 participants had the opportunity to enhance their risk management skill-sets and techniques, with the view of developing a critical and innovative outlook.

The programme principally covered risk, from typology to processes. It looked into pertinent risk issues to Islamic banks namely on capital, capital allocation, on liquidity, on compliance to Basel II/Basel III and also arising out through the modality of Islamic banking through introduction of new laws, guidelines and directives often tied to enhancing both Corporate and Shariah Governance in Islamic banks.

Through interactive lectures and direct engagements with subject matter experts on Islamic finance, participants of both programmes were exposed to underlying paradigm of Islamic finance such as Shariah, made to understand the global appeal of Islamic finance, and introduced to the major components and various instruments available in the industry.

Apart from classroom discussions, participants had the opportunity to visit the Islamic Financial Services Board (IFSB) which is an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic financial services industry by issuing global prudential standards and guiding principles for the industry.

They also visited a number of financial institutions for a hands-on experience on the workings of the respective institutions which included Agrobank Bhd, Bank Rakyat, CIMB Islamic Bank, Etiqa Takaful Malaysia Berhad, OCBC Al-Amin Bank and Amanah Ikhtiar Malaysia.

The history of the MTCP Programme dates as far back to the First Commonwealth Heads of States (CHOGM) Meeting in Sydney in February 1978, where the idea was first conceived. The Malaysian Technical Cooperation Programme was officially launched on 7 September, 1980 at the Commonwealth Heads of State Meeting in New Delhi, India, to signify Malaysia’s commitment to South-South cooperation, in particular Technical Cooperation among Developing Countries. In line with the spirit of South-South Cooperation, Malaysia through the MTCP shares its development experiences and expertise with other developing countries. The programme forms part of the commitment of the Malaysian Government towards promoting technical cooperation among developing countries, strengthening of regional and sub-regional cooperation, as well as nurturing collective self-reliance among developing countries.

As a knowledge leader in Islamic finance, INCEIF is honoured to be part of the government’s initiatives to share the nation’s expertise in Islamic finance with other developing countries. The university has been organising the short courses on diverse topics on Islamic finance since 2016.

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