IslamicFinance.de

Six Malaysian Islamic banks have agreed to jointly develop a waqf fund which focuses on projects in four areas — economic empowerment, education, health and investment.
The banks are namely: Affin Islamic Bank Bhd, Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), Maybank Islamic Bhd and RHB Islamic Bank Bhd . They have signed a Waqf Fund Strategic Collaboration Agreement.

· To coordinate the planning process including monthly & quarterly forecast, annual budgets.
· To perform analysis including the development of Key Performance Indicator (KPI) for the Department.
· To monitor the industry trends and identifying growth opportunities.
· To realign and reengineering the department's process flow and facilitate changes whenever required.
· To develop a reporting framework for management and other stakeholders of the Bank.

To develop, review and enhance:
· Credit Risk Policy (CRP)
· Guidelines to CRP (GCRP) in line with CAFIB, Basel II / IFSB requirements and BNM's Best Practice guidelines.
· To monitor and track compliance by business units and other relevant support departments to the bank's credit risk policies.

Manager, Fund Transfer Pricing, Finance
Main Responsibilities:
· To assist in the setting up of Fund Transfer Pricing (FTP) in BMMB with respect to policies, procedures and systems.
· To craft and review FTP periodic reports.
· To liaise with business units on allocation of costs.

In the search for ways to deal with rising operational costs, Malaysia's Islamic banks are ready for consolidation. While in the past Islamic banks would rather not merge mainly because of resistance from powerful shareholders, now the development of megabanks would enable the issuance ground-breaking products just as conventional banks. This is made possible thanks to the rapid growth of Islamic finance - 23.7% of Malaysia's total banking assets belongs to the Islamic financial sector.

Read more on: http://www.thesundaily.my/news/519665

The products Bank Muamalat is planning to launch are intended to be competitive not only in terms of returns, but also in terms of corporate social responsibility. The bank wants to concentrate on products it can channel towards corporate social responsibility, what they call ethical banking. The reason therefor is that Islamic banking is pereived to be ethical banking in its core and Bank Muamalat believs there is a market for such products.

More on: http://www.cpifinancial.net/news/post/15773/bank-muamalat-to-issue-more-...

Malaysian Bank Muamalat announced the launch of the first Islamic bank in China. The project is planned to be realized in a two-years' time in team with Bank of Shi Zui Shan of China. The new bank will be situated in the autonomous region of Ningxia Hui. Its role will be to contribute to the development and promotion of Islamic banking in the region.