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The Development of Islamic Finance in Malaysia: Facts, Issues and Potential

Series
Asian Studies Centre
Embed
Arshad Mohamed Ismail speaks on Islamic Finance at the Southeast Asia seminar
Islamic finance is often seen as a segment that is experiencing exponential growth within the global financial arena. The industry is founded upon Islamic principles that prohibit charging of interest and engaging in speculative or gambling transactions, among others. Over the years, the industry has grown not just in terms of volume but also in terms of the breadth of products available to clients of varying degrees of sophistication. Islamic bankers used to be repackaged conventional bankers who taught themselves Islamic finance on-the-job whilst being guided by learned Sharia scholars. The current stream of Islamic bankers, however, often comprises professionals who have had some form of formal education in Islamic principles; it is no longer acceptable for front-line Islamic bankers to wholly delegate the responsibility of ensuring Sharia compliance to Sharia scholars.

Malaysia is often acknowledged as a leader in Islamic finance, and rightly so. The authorities have spent a lot of time and effort to establish a robust Islamic financial system that operates alongside the conventional interest-based financial system. The market share of Islamic banking products has been steadily growing since the establishment of the first Islamic bank in Malaysia in 1983. However, the journey has not been without challenges and issues. Some pertinent questions remain: Is Islamic finance a fad? Is it really different to conventional banking and finance? These are all issues that continue to be debated passionately by proponents on both sides of the divide.

Arshad Mohamed Ismail is currently the SC-OCIS Visiting Fellow in Islamic Finance at the Oxford Centre for Islamic Studies and an Executive Vice President and Head of Corporate and Investment Banking at Maybank Islamic, Malaysia. He oversees the corporate banking and investment banking businesses of Maybank Islamic within Malaysia and regionally. Arshad started his career as a lawyer in the mid 90s with a focus on Islamic finance and banking, corporate and commercial work. He subsequently joined CIMB Islamic in 2003 as one of its pioneer members and spent a significant amount of time originating, structuring and executing Sukuk transactions. Arshad then relocated to the United Arab Emirates to take on the role of Global Head of Sukuk at HSBC Amanah. During his time there, Arshad and his team successfully originated, structured and executed many Sukuk transactions in the GCC region and Asia. After HSBC Amanah, he had stints in Saudi Arabia and again in the United Arab Emirates where he focused on real estate fund management, corporate finance and investment banking before returning to Malaysia at the end of 2011.

Arshad holds a LLB from the International Islamic University, Malaysia and a MBA from the London Business School.
Creative Commons Licence
Creative Commons Attribution-Non-Commercial-Share Alike 2.0 UK (BY-NC-SA): England & Wales; https://creativecommons.org/licenses/by-nc-sa/2.0/uk/

Episode Information

Series
Asian Studies Centre
People
Arshad Mohamed Ismail
Keywords
Islamic finance
Malaysia
Department: St Antony's College
Date Added: 21/04/2016
Duration: 01:29:34

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What Can We Learn from Planetary Surveys?

Series
The Physics of Fine-Tuning
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In the fourth part of their discussion, Suzanne Aigrain and Michael Meyer discuss how we move from observations of exoplanets to conclusions about their types and formation. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Suzanne Aigrain
Michael Meyer
Keywords
fine-tuning
Physics
science
planets
planet formation
Department: Department of Physics
Date Added: 20/04/2016
Duration: 00:10:56

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Is Our Solar System Special?

Series
The Physics of Fine-Tuning
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In the third part of their discussion, Suzanne Aigrain and Michael Meyer discuss ways in which our solar system is unusual in its makeup and formation. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Suzanne Aigrain
Michael Meyer
Keywords
fine-tuning
Physics
science
solar system
planets
Department: Department of Physics
Date Added: 20/04/2016
Duration: 00:14:12

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Fine-Tuning and the Scientific Process

Series
The Physics of Fine-Tuning
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In the second part of their discussion, Michael Meyer and Suzanne Aigrain talk about the way they, as working physicists, think of fine-tuning in complex planetary systems. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Suzanne Aigrain
Michael Meyer
Keywords
fine-tuning
Physics
science
philosophy of science
Department: Department of Physics
Date Added: 20/04/2016
Duration: 00:08:34

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Telescope Design and the Search for Life

Series
The Physics of Fine-Tuning
Embed
In the first part of their discussion, Michael Meyer and Suzanne Aigrain lay out the conditions for habitability on an exoplanet and challenges of looking for such planets. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Suzanne Aigrain
Michael Meyer
Keywords
fine-tuning
Physics
science
planets
life
telescopes
Department: Department of Physics
Date Added: 20/04/2016
Duration: 00:20:28

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Life in the Universe: Where and How Can We Find It?

Series
The Physics of Fine-Tuning
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In the fourth part of their discussion, Mario Livio and Joe Silk talk about the way planetary systems form and the preconditions for life-bearing planets to exist. This discussion was conducted at Trinity College, Oxford, on February 12, 2016

Episode Information

Series
The Physics of Fine-Tuning
People
Joe Silk
Mario Livio
Keywords
fine-tuning
Physics
science
philosophy of science
life
planets
Department: Department of Physics
Date Added: 19/04/2016
Duration: 00:13:17

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Testability, Physics, and the Multiverse

Series
The Physics of Fine-Tuning
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In the third part of their discussion, Mario Livio and Joe Silk ask: could our theories exceed our ability to test them? Have they already? This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Joe Silkl
Mario Livio
Keywords
fine-tuning
Physics
science
philosophy of science
multiverse
string theory
Department: Department of Physics
Date Added: 19/04/2016
Duration: 00:24:55

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Biosignatures and the Search for Life

Series
The Physics of Fine-Tuning
Embed
In the second part of their discussion, Joe Silk and Mario Livio go over biosignatures: things which, if observed, would be evidence for life. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Joe Silk
Mario Livio
Keywords
ne-tuning
Physics
science
philosophy of science
life
planets
Department: Department of Physics
Date Added: 19/04/2016
Duration: 00:18:00

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Life in the Universe: The Fermi Paradox

Series
The Physics of Fine-Tuning
Embed
In the first part of their discussion, Joe Silk and Mario Livio consider the chances of life elsewhere in the universe. They talk about the Fermi paradox and responses to it. This discussion was conducted at Trinity College, Oxford, on February 12, 2016.

Episode Information

Series
The Physics of Fine-Tuning
People
Joe Silk
Mario Livio
Keywords
fine-tuning
Physics
science
philosophy of science
Department: Department of Physics
Date Added: 19/04/2016
Duration: 00:11:34

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Timor-Leste, Challenges in Post-Independence: From Dream to Reality

Series
Asian Studies Centre
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José Ramos-Horta, Nobel Peace Prize Laureate and Former President of East Timor, speaks at St Antony's College.
What the experience of Timor-Leste teaches us is that there are no short cuts to peace; peace is a journey that must be reached step by step, a foundation that has to be built block by block. In my country we had to heal the wounds of the body and the heart; we honoured the victims, we are caring for the survivors; and we decided not to be hostage of the past, not to succumb to anger and hatred.
When we fight for freedom, human dignity and justice, we fight because of our convictions and our conscience; but we only succeed in these noble endeavours if we also use our brains, our intelligence and common sense in pursuing these noble ideals and goals; we would be doomed to fail if we do not evaluate each and every situation and each and every step. After 24 years of a tumultuous relationship, Indonesia and Timor-Leste parted ways; in 2002 Timor-Leste achieved independence.
In spite of the tragic past of violence, even as almost every Timorese family were still mourning the loss of loved ones, the leaders of the two countries began a process of reconciliation and normalization of relations.
An illustration of how far and deep Indonesia-Timor Leste's relationship has developed after the tumultuous years of occupation and resistance (1975-1999), is the fact that Timor-Leste's ASEAN membership application has been most passionately championed by Indonesia. While in our own region, some had reservations about Timor-Leste's readiness to join ASEAN and become an effective member, Timor-Leste is playing a constructive and pro-active role elsewhere in the world and gaining sympathy and respect.
Creative Commons Licence
Creative Commons Attribution-Non-Commercial-Share Alike 2.0 UK (BY-NC-SA): England & Wales; https://creativecommons.org/licenses/by-nc-sa/2.0/uk/

Episode Information

Series
Asian Studies Centre
People
José Ramos-Horta
Keywords
Timor-Leste
peace
conflict
elections
Department: St Antony's College
Date Added: 19/04/2016
Duration: 01:02:45

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