GLOBAL FORUM ON ISLAMIC ECONOMICS AND FINANCE

Officiated by YAB Dato’ Seri Anwar bin Ibrahim, The Prime Minister of Malaysia - who also deliver a speech on Global Islamic Economy: A Reform Agenda for Shared Prosperity

Would like to thank the organizer Bank Negara Malaysia in collaboration with the Securities Commission Malaysia, Labuan Financial Services Authority, the IILM - International Islamic Liquidity Management Corporation, the Islamic Development Bank (IsDB), the Islamic Financial Services Board (IFSB) and the The World Bank Group - for having us who are representing the grassroots, community and small people hoping to get some briefing from us after the event.

(Personal Note : also would like to thank many colleagues who have been great supporters to me as well)

Themed ‘Shaping a Resilient Global Islamic Economy Through Values-based Reforms’, #GFIEF gathers policymakers, business leaders, and financial service providers from all around the world to engage in discussion and collaborate to build a future where Islamic economics and finance can play a pivotal role in fostering shared prosperity and equity.

Encountered distinguished figures such as Datuk Abdul Rasheed Ghaffour, the Governor of Bank Negara Malaysia, who delivered the keynote remark, alongside esteemed individuals like Tan Sri Nor Mohamed bin Yakcop, Tan Sri DS Wahid Omar, and senior corporate leader Tan Sri Dato' Azman Mokhtar and many others. Also in attendance were Yang Mulia Ungku Tan Sri Dr. Zeti Akhtar binti Ungku Abdul Aziz (Dinner), YBM Senator DS Utama Tengku Zafrul Aziz, Dato' Seri Dr. Awang Adek Hussin, and numerous others. Among the honored guests was Her Excellency Sri Mulyani Indrawati, the Minister of Finance from #Indonesia.

It was a remarkable opportunity to engage with eminent Islamic scholars and guest speakers, delving into comprehensive discussions and analyses of various aspects of Islamic Economics and Finance. Among others are Dame Susan Rice and Dr. Giath Sabsigh. Also met Tan Sri Andrew Sheng and many others.

Attending the exhibition was always a highlight for us, offering valuable connections with diverse banking and financial institutions.

(Interestingly, I met the son of my esteemed cousin, who is employed in the field - well it runs in the family - can't mention names due to privacy)

Malaysia can now proudly proclaim as the leader in Islamic Economy and Finance, (apart from Halal products/Islamic Banking) Most important to us is the emphasis placed by everyone on addressing the crucial issue of bridging the gap between the affluent and the underprivileged.

Key themes that resonated with me included Maqasid Shariah, Sukuk, Equity, Inclusivity, Advancements in Islamic versus Conventional Economics and Finance, Bursa Malaysia and emerging Shariah-compliant exchanges, Zakat and Waqf, Islamic Financial Standards, Guidelines, Policies, White Papers, Utilization of AI, and Islamic Payment Gateways, among others.

Anda Muflis? Sedikit nasihat pada rakan-rakan. (Hard Talk)

Muflis? AKPK? Insolvensi? adalah antara perkataan yang paling ditakuti oleh pendengarnya. Ramai si muflis yang mengalami depresi, masalah rumahtangga, rasa hilang harga diri, sukar mendapat kerja, gagal membuka akaun, gagal ke luar negara, tidak dapat mengeluarkan duit ASNB dan lain-lain.

Akta 360 Insolvensi 1967 telahpun dipinda. "Pelepasan Automatik" juga masih tertakluk kepada beberapa syarat :

1) pengisytiharan kebankrapan melepasi tempoh lima tahun dari tarikh perintah penerimaan/penghukuman/perintah kebankrapan.

2) jumlah hutang atau baki tidak melebihi RM50,000.

3) tiada perintah mahkamah, prosiding mahkamah dan/atau prosiding penyiasatan dijalankan ke atas bankrap yang menghalang pelepasan.

Nasihat saya, jangan takut untuk menghubungi Jabatan Insolvensi Malaysia (Mdl) mahupun Agensi Kaunseling dan Pengurusan Kredit (AKPK) berdekatan kerana mereka adalah agensi dan jabatan yang membantu dan bukan menyusahkan.

Jangan percaya khabar atau "cakap orang" yang tidak bertauliah mengenai muflis ATAU mengenai agensi/jabatan ini atau berkait politik kerana "nasihat" ini akan menakutkan anda atau mungkin ada pihak yang cuba mengambil peluang yang akan menyusahkan diri dan keluarga anda.

Jangan lari dari tindakan undang-undang atau membuat penipuan maklumat mengenai diri anda semasa memohon pekerjaan, membuka akaun atau membuat pelaburan atau cuba ke luar negara menerusi negara jiran dll. - di suatu masa nanti, anda akan menyusahkan diri anda sendiri termasuk keluarga anda yang mengharapkan anda. HADAPI REALITI.

Tetapi jika anda ada perintah/prosiding mahkamah/penyiasatan yang sedang berjalan atau baru diisytihar muflis, nasihat saya - hadirlah ke mahkamah (dapatkan khidmat peguam - pastikan dokumen mencukupi), kemudiannya jangan malu mengunjungi Mdl atau jika perlu AKPK.

Anda perlukan khidmat dan nasihat yang betul kerana anda masih boleh membuka akaun atau ke luar negara, menunaikan fardhu haji malah bekerja atau berniaga - tetapi ada syarat-syarat tertentu yang perlu anda ikuti - rujuk Mdl berdekatan.

Jika anda jatuh pada 3 kategori di atas :

1) Sila layari dahulu e-insolvensi dan buat carian tindakan muflis ke atas anda atau pastikan anda menyimpan rekod-rekod yang berkaitan tindakan ke atas anda,

2) Muaturun Borang Permohonan Pelepasan Sijil KP Insolvensi

Sebaiknya kunjungi Jabatan Insolvensi berdekatan untuk maklumat lanjut.

Hantarkan borang dengan dokumen berkaitan samada menerusi email atau sebaiknya terus ke Jabatan Insolvensi.

Sekiranya tiada bantahan diterima dari pemiutang (mungkin memakan masa sedikit untuk mendapat respon), maka kemungkinan besar anda akan dilepaskan dari tindakan bankrap. Sabarlah menanti.

Tanda-tanda pelepasan :

Semakan Status Perjalanan di portal Imigresen untuk ke luar negara - tertera "Tiada Halangan" yang berwarna hijau.

Buat carian sekali lagi menggunakan e-insolvensi dan dapatkan keputusan yang menunjukkan "Tidak Bankrap"

Selamat Berjaya.

READY TO GET A LOAN OR FINANCE FROM BANKING AND FINANCIAL INSTITUTIONS?

Getting a loan or financing from banking and financial institutions can indeed be challenging, especially if you're a small business or an individual with less-than-ideal credit history. Yes, there are many reasons why it can be difficult and some tips on how to improve your chances of getting attention from lenders. Here's a simple checklist.

1. Creditworthiness

Many may not be aware that banks and financial institutions in Malaysia nowadays will assess your creditworthiness before approving a loan. If you have a poor credit score or limited credit history, it can be harder to secure financing. The following might be strange to some but believe me they are related in improving your creditworthiness.

a) work on paying bills on time - try not to get blacklisted anywhere,

b) reducing outstanding debt - loans - automobile, office equipment, personal, housing etc.

Sometimes credit report may not be up-to-date, thus you may want to take extra effort to correct any errors or non-updated information.

2. Income and Stability

Lenders want assurance that you'll be able to repay the loan. If you have irregular income or unstable employment, it can raise concerns for lenders. Providing proof of steady income and employment history can help mitigate these concerns. Should you have any other sources of income apart from your regular salary or from your business, it may help.

3. Collateral

Many loans require collateral, such as real estate or valuable assets, to secure the loan. If you lack sufficient collateral, it can make it harder to qualify for certain types of financing. Consider building up assets that you can use as collateral or exploring alternatives such as unsecured personal loans.

4. Business Plan

If you're seeking financing for a business, having a well-thought-out business plan can make a big difference. A comprehensive business plan demonstrates to lenders that you have a clear vision for your business and a strategy for achieving success. Make sure to include financial projections, market analysis, and information about your management team.

Full sets of projected accounts must display a certain logical business flow, viability, feasibility etc.

If necessary include gearing ratio. (Financial ratio that compares some form of capital or owner equity to funds borrowed by the company) Gearing is a measurement of a company's financial leverage. As such, the gearing ratio is one of the most popular methods of evaluating a company's financial fitness.

5. Relationship with the Lender

Building a relationship with a lender can improve your chances of getting attention when applying for a loan. Consider establishing a relationship with a bank or credit union where you regularly conduct your financial transactions. Meeting with a loan officer in person can also help personalize the process and showcase your commitment.

6. Shop Around

Don't limit yourself to just one lender. Shop around and compare loan offers from multiple banks and financial institutions. Each lender may have different criteria and terms, so exploring your options can increase your chances of finding a suitable loan.

7. Prepare Documentation

Be prepared to provide all necessary documentation requested by the lender. This may include proof of income, tax returns, bank statements, business financials, and personal identification. Having all your documentation in order can streamline the application process and demonstrate your readiness.

8. Improve Financial Health

Take steps to improve your overall financial health. This can include reducing debt, increasing savings, and improving your credit score. Lenders are more likely to extend credit to individuals and businesses with strong financial profiles.

By addressing the abovementioned factors and presenting yourself as a reliable borrower, your chances may increase in getting attention from lenders and securing the financing you need.

Good luck