Sunday, July 26, 2015
An observation on "Islamic Financial Services Act (IFSA) 2013 (Malaysia)
1. Can IFSA 2013 serve as the comprehensive alternative solution to Islamic Banking Act (IBA)1983, Takaful Act (TA)1984 & Banking and Financial Institutions Act (BAFIA) 1989?
2. As has been observed that, the total required regulatory solutions (as per required by the M'sian both systems of financial industries today) are not sufficiently (details) provided yet under the IFSA.
3. Hence, an intensive revision to IFSA (considering the current practical reality & foreseeable future industrial growth) may be recommended.
4. A continuing revision of IFSA (every 3 years) may also be recommended, because of the rapid growth phenomena in the industry with discovered dimensions as to products, system, management, mechanisms, culture and activities.
5. IFSA may be made to be able to play an effective leading role (example) in the world Islamic financial industries in its capacity as the comprehensive standard regulatory frameworks acceptable & appreciated globally.
6. It may also be kept in mind that, Islamic finance is not merely a product, but a holistic integrated system applicable to and benefits all mankind with the spirit of universal value regardless of one's religion, race, gender or status. That is the niche of Islamic finance with its sacred uniqueness comparing with other financial products and services in the modern economy.
Monday, April 1, 2013
Interview by Global Islamic Finance Magazine
INTERVIEW of Prof. Dr. Mohd. Ma'sum Billah
by:
Global Islamic Finance Magazine
(Leading Islamic Finance Intelligence Since 2007).
The issue of Franchising of Islamic Financial Products & Services with Global Approach.
The detail of the interview can be browsed through the following link:
http://
by:
Global Islamic Finance Magazine
(Leading Islamic Finance Intelligence Since 2007).
The issue of Franchising of Islamic Financial Products & Services with Global Approach.
The detail of the interview can be browsed through the following link:
http://
Tuesday, March 5, 2013
15 Directives to Create a “Developed–Nation”?
The following may be among the potential directives to create a "Developed-Nation" in the modern reality:
1. Industrialization & Privatization shall work concurrently as the core
mission of the nation building.
2. Moving forward with high achiever plan towards creating an enterprising
& entrepreneur based natin.
3. Religious rights, cultural dignity and socio-harmony shall be respected as
the Constitutional rights of every citizen.
4. Policy Reform (Laws & Enforcement) shall be effectively exercised by
comparing with the modern reality and, be controlled by the government with
total compliance of the Public interest.
5. Separation of Power (among the law makers, executors & the judiciary)
shall be strictly observed at all level of the system (government).
6. Democratic spirit shall be maintained with due respect.
7. Visioning a K-nation by focusing on “Human Capital Development in reality”.
8. BOT (Build, Operate & Transfer) arrangement through foreign groups
(investors, contractors, tech-groups, suppliers & operators) partnering
with possible participation from the local players towards sustainable
development of major sectors / projects with class 'A' standard.
9. No Violation or Strike shall be appreciated as the tool for demand or
achievement, but Peace process & Professionalism with Wisdom, Mutual
Respect & Utmost tolerance shall be adapted as the national culture towards
Reform.
10. Country, the “nation of corruption-free” shall be an enforceable campaign.
11. Culturising a national slogan “Harmony but no Conflict to Prosperity”.
12. Self-reliance shall be the micro-culture for all.
13. Visit -2013 to attract foreign investors, corporate players, industrialists
& professionals in view of "Reform" in reality.
14. World Summit on National Reform - 2013, for the Global awareness towards
"Reform" visioning a dynamic change in the wake of globalization.
15. No tax on Low income but on Corporate, medium & high income groups as
to generate Public Revenue on justification.
-MB-
Tuesday, January 29, 2013
55 Sectors in Creating "Developing Modern 3rd World"
Followings are
among the major sectors may significantly facilitate in creating "developing
modern 3rd world" in view of an effective socio-economic victory for all within
the true spirit of eco-democracy in today’s advance tech-reality.
|
No.
|
SECTORS
|
Objectives
|
|
|
Just and Equitable Budget with a Dreamed Future for All.
|
Strategic Plan with Reality
|
|
|
Industrialization–2025
|
Strategic Plan with Reality
|
|
|
Privatization A promised future.
|
Privatization
|
|
|
Major Development Plan @ Infrastructures (Road, Bridges,
Railways, Highways)
|
BOT / Privatization
|
|
|
The Cyber (Digital) Nation in Reality
|
Strategic Plan with Reality
|
|
|
Enterprising Plan
|
Strategic Plan with Reality
|
|
|
Domestic Aviation Industry: a Budget Air Model
|
Privatization
|
|
|
Human Capital Scheme To Create a Nation with Super Skills
|
Privatization
|
|
|
Law Reform Plan
|
Strategic Plan with Reality
|
|
|
Mono-rail Project in the Major Cities
|
BOT
|
|
|
Digital Hospital & Health Care Project in Every Sub-District
|
BOT
|
|
|
Power Plant (Review & Total Success Plan)
|
Privatization
|
|
|
Water Supply in totality
|
Privatization
|
|
|
Tele-communication in totality
|
Privatization
|
|
|
Micro-financing to create an entrepreneur-nation
|
Strategic Plan with Reality
|
|
|
Micro-Unit Trust to make a Sound Saving Nation
|
Strategic Plan with Reality
|
|
|
Gas based water transports
|
Privatization
|
|
|
Managing Natural Resources with Effective Results
|
Privatization
|
|
|
Effective Plan for Creating Result Oriented Human Resources
|
Privatization
|
|
|
Children the Future back bone of the Nation Scheme.
|
Strategic Plan with Reality
|
|
|
Environmental care with a Contemporary foreseeable Test
|
Strategic Plan with Reality
|
|
|
Low-cost Housing to Create a Home ownership for All.
|
Privatization
|
|
|
National ID (MPC)
|
Strategic Plan with Reality
|
|
|
Natural Resources : The
Utilization & Commercialization in Reality
|
Strategic Plan with Reality
|
|
|
Cooperative Nation State Scheme
|
Strategic Plan with Reality
|
|
|
Review of Education System with Smart Model
|
Strategic Plan with Reality
|
|
|
Review of Private Education System with Smart Model.
|
Strategic Plan with Reality
|
|
|
Commercialization of Lands, Rivers & Lakes
|
Privatization
|
|
|
Unemployment Solutions Plan
|
Strategic Plan with Reality
|
|
|
Prisoners’ Scheme
|
Strategic Plan with Reality
|
|
|
Rising Low-income groups to Wealthier Scheme
|
Strategic Plan with Reality
|
|
|
Re-discovery of HR Plan with socio-human and Commercial value
|
Strategic Plan with Reality
|
|
|
Review on Financial Policy and Structure with global model
|
Strategic Plan with Reality
|
|
|
Islamic Financial Hub
|
Strategic Plan with Reality
|
|
|
Traders & Manufacturers’ Hub
|
Strategic Plan with Reality
|
|
|
Tourism Hub
|
Strategic Plan with Reality
|
|
|
Visit - 2013
|
Strategic Plan with Reality
|
|
|
The Modern Industrialists’ Hub
|
Strategic Plan with Reality
|
|
|
Micro-Computer Scheme
|
Strategic Plan with Reality
|
|
|
Micro-Entrepreneurship Scheme
|
Strategic Plan with Reality
|
|
|
Micro-Cooperative Scheme
|
Strategic Plan with Reality
|
|
|
Teachers-Students- Parents (TSP) Rewards Scheme
|
Strategic Plan with Reality
|
|
|
Productions & Exports High Achiever Plan
|
Strategic Plan with Reality
|
|
|
5 Years Loan –Free Campaign
|
Strategic Plan with Reality
|
|
|
5 Years Donation –Free Campaign
|
Strategic Plan with Reality
|
|
|
5 Years Self-reliant Nation Campaign.
|
Strategic Plan with Reality
|
|
|
Oil-gas Management.
|
Strategic Plan with Reality
|
|
|
Computerization
(Nation-wide) in major sectors;
|
Privatization
|
|
|
Submarine
cable System;
|
Privatization
|
|
|
Modern Halal Shopping Malls
in Major Cities nationwide.
|
Privatization
|
|
|
Create a K-Nation with No Students’ Politics
|
Strategic Plan with Reality
|
|
|
Jam Solutions in the Major Cities
|
Strategic Plan with Reality
|
|
|
Cooperative Micro-finance
|
Strategic Plan with Reality
|
|
|
Cooperative Micro-bond
(Debt-free Development)
|
Strategic Plan with Reality
|
|
|
Eco-Democracy for all
|
Strategic Plan with Reality
|
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