BNP Paribas partners for Islamic finance centre in Malaysia

BNP Paribas Malaysia Berhad and INCEIF, the Global University of Islamic Finance, have opened the BNP Paribas-INCEIF Centre for Islamic Wealth Management located on INCEIF’s Campus in Kuala Lumpur.

The launch coincided with this year’s Global Islamic Finance Forum, a biannual event which has attracted more than 400 local and international participants.

BNP Paribas Malaysia Berhad CEO Krishna Chetti and INCEIF President & CEO Daud Vicary Abdullah exchanged the Memorandum of Agreement to commemorate the launch.

Witnessed by BNP Paribas Malaysia Berhad Chairman Dato Abdullah Mat Noh, BNP Paribas Malaysia Berhad Board Member En. Halim Bin Din, Deputy CEO of BNP Paribas Investment Partners APAC, Mr Vincent Camerlynck and INCEIF Board Member Dr. Rozali Mohammed Ali.

A statement said the link up demonstrated its commitment to the country and augured well for Malaysia “as the country seeks to become an internationally recognised hub for Islamic wealth management”.

In June 2012, BNP Paribas Malaysia Berhad launched its Islamic banking window under the “Najmah” brand, adding to existing Islamic finance activities in asset management and international banking in Malaysia.

“We are serious and committed to build a solid base in Kuala Lumpur, with a strong focus on cross border. To succeed, talent development is crucial and we are looking forward to making a contribution to the industry” said Chetti.

The research centre is dedicated to development of Islamic wealth management, asset management and capital markets and aims to enhance the knowledge of practitioners, shariah scholars, students, investors and the public of such financial products and solutions.

Its activities will include applied research in specialized Islamic wealth management areas, workshops, conferences, roundtable discussions and vocational training. BNP Paribas Malaysia will provide a financial grant to the centre to fund research and publish works on Islamic wealth management.

BNP Paribas-INCEIF Centre for Islamic Wealth Management will officially operating from 1st October 2012. INCEIF, the International Centre for Education in Islamic Finance, was set up by Bank Negara Malaysia in 2005 to develop human capital for the global Islamic finance industry.

BNP Paribas has been present in Malaysia since 1973. In the 1990’s, it opened the Labuan Offshore Banking Unit and started Corporate Finance and Equities Research activities. In 2007 the bank started asset management activities, receiving its full banking license in 2011.

BNP Paribas Malaysia Berhad became fully operational on 1 June 2011 with local capabilities across all Corporate and Investment Banking products and services, including Debt Capital Markets, in both conventional and Islamic banking.

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