@Halal Sept/Oct 2019 | Page 18

18 @Halal | september-october. 2019 Finance A growing trend I wave of growth in IWM. In 2017, the SC introduced a five-year Islamic Fund and Wealth Management Blueprint to further strengthen Malaysia’s position as a global hub for Islamic funds and assets by 2021, a further catalyst for market participants to further innovate and develop the IWM landscape for consumers. MaYbanK’s iwM Islamic Wealth Management is on the rise tHe fast-CHanging MalaYsian iwM lanDsCaPe In Malaysia, Islamic capital market growth Turn your spend into rewards Win Mercedes Benz A200 and more! has been largely dependent on the fund and wealth management industry. as it stands, the Shariah-compliant fund management industry is an already well-established one, with assets Under Management (aUMs) of approximately RM132.4 billion (at end-2015) managed by 20 full-fl edged licenced Islamic fund manage- ment companies and 27 Islamic windows. Islamic Unit Trust Funds are popular with Muslims and non-Muslims alike, the latter of whom comprise a sizeable 30 percent of total aUM. Overall, Malaysia’s fi nancial markets are gearing up and preparing for the next For comprehensive and individually tailored advice, please contact Maybank’s dedicated Client Advisors / Relationship Managers, call 603 2074 8200 / 1300 80 5555 or e-mail privatewealth@ maybank.com.my / premierwealth@maybank. com.my Stand to win your dream car or holiday with your Maybank Islamic Ikhwan Credit Card! Grand Prize Mercedes Benz A200 Sedan 2X First Prize Holiday vouchers for 2 worth RM10,000 50X Bonus Prize RM200 Cash Back 100X Consolation Prize RM100 Cash Back STEP 1 : SMS REWARDS 12-digit NRIC Number and send to 66628 to register STEP 2 : Earn 1X Entry for every RM200 spend Campaign Period : 15 July – 15 November 2019 Terms and conditions apply. Don’t have a Maybank Islamic Ikhwan Credit Card? Apply online now and spend any amount or perform Balance Transfer to earn additional 20X Entries. www.maybank2u.com.my American Express is a trademark of American Express. The American Express Card is issued by Malayan Banking Berhad pursuant to a license from American Express. Humanising Financial Services. SlaMIC Wealth Manage ment (IWM), a fi nancial system anchored by ethical and social considerations, is gaining popularity among affl uent individuals seeking Shariah-based fi nancial solutions, coinciding with a global move for a monetary system more closely aligned with the United Nations’ Sustainable Development Goals. IWM is a holistic solution that encom- passes the entire life cycle of wealth creation, accumulation, preservation, purifi cation and distribution in accordance with Shariah law – a commonality of focus shared with socially responsible investing where greater heed is paid to environmental, social and governance considerations. With the twin thrusts of increasing demand and a growing awareness of the importance of sustainable investing, IWM is fast gaining popularity globally, particularly in the Middle East and asia. Indeed, owing to its relative emergence, IWM is growing at a pace quicker than con- ventional banking and wealth management, compelling industry participants such as the Securities Commission (SC) and RaM Ratings to forecast that IWM will enter the mainstream sooner rather than later, aff ord- ing customers the luxury of choice between Shariah and Conventional banking products. The SC, as Malaysia’s capital market promoter and regulator, estimates that the number of affl uent High Net Worth Muslims globally is expected to rise to 12 million by 2030, prompting its recognition of the vast opportunities and challenges of such an expansion. This shift makes it essential for the fi nan- cial services industry and its regulators here and in foreign jurisdictions to anticipate and manage its growth via a mix of responsible Shariah governance, innovation and product diversifi cation. Maybank Islamic which is the largest Islamic Finance provider in Malaysia and the asia-Pacifi c region off ers a full suite of IWM solutions encompassing the whole spectrum of wealth management from wealth creation, accumulation, protection and distribution, all on one platform. The ethical values embedded in these products and services make them appealing to every- one, regardless of race and religion. For the bank, this means being responsive to current trends. The Bank’s approach to IWM has always focused on off ering a comprehensive solu- tion to all customers. Key among Maybank Islamic’s suite of diff erentiated products is its Investment account (Ia), a unique instrument focusing on Islamic fi nancing assets and market- able securities, off ering potentially higher returns but at slightly lower risks as an alter- native to Conventional deposit accounts. Clients can also enjoy the General Invest- ment account (GIa), a fl agship product under Maybank Islamic’s Shariah-compliant port- folio which caters to its Private & Premier Clientele. Maybank Islamic also distributes Shariah-compliant unit trust funds from its internal fund house as well as ten diff erent external fund houses under its open archi- tecture platform. The bank also leverages on the expertise of Islamic Fund Management (via Maybank Islamic asset Management) which has considerable access to a wide array of local and global capital market opportunities. Customers may tap on Maybank Islamic’s vast experience and universe of talent, with a dedicated Shariah Committee that evalu- ates and approves all its Shariah banking business. For its products and services, Maybank Islamic has won The Best Private Bank for Islamic Services in 2018, and World’s Best Private Banks 2019 - Best Private Bank for Islamic Services (Globally), continuing a multiyear trend of winning key industry awards.