Tuesday, August 13, 2013

Kutip hutang pinjaman peribadi RM91.2 bilion

KUALA LUMPUR 13 Ogos - Angkatan Koperasi Kebangsaan Malaysia Bhd. (Angkasa), akan mengutip hutang pinjaman peribadi sebanyak RM91.2 bilion daripada dua juta ahli peminjam setakat 30 Jun 2013. Tempoh kutipan yang diamanahkan kepada Angkasa adalah sehingga 20 tahun, kata Presiden Angkasa, Datuk Abdul Fattah Abdullah. Menurut beliau, hampir 90 peratus daripada pemegang akaun pinjaman peribadi merupakan kakitangan kerajaan. Katanya, pihaknya tidak mempunyai masalah untuk mengutip semula hutang pinjaman peribadi kerana sistem kutipan adalah berdasarkan skim potongan gaji. "Proses kutipan berjalan lancar dan kadar peratusan hutang tidak berbayar (NPL) setakat ini amat kecil iaitu di bawah dua peratus,'' katanya. Beliau berkata demikian kepada Utusan Malaysia ketika ditemui di sini baru-baru ini. Angkasa kini memiliki lapan juta ahli daripada kira-kira 6,000 buah syarikat koperasi yang berdaftar dalam negara. Syarikat koperasi itu menjangkakan untuk memperoleh 85 peratus keahlian dalam kalangan syarikat-syarikat koperasi yang berdaftar di Malaysia. Setakat ini, Angkasa berjaya mencapai 60 peratus keahlian daripada 10,500 syarikat-syarikat koperasi yang berdaftar dengan Suruhanjaya Koperasi Malaysia. Angkasa juga diberi tanggungjawab untuk mengutip hutang pinjaman peribadi lebih 300 buah syarikat koperasi yang menjalankan aktiviti kredit. Ketika ditanya mengenai perancangan Angkasa yang akan menubuhkan sebuah bank koperasi seperti Bank Kerjasama Rakyat Malaysia Bhd. (Bank Rakyat), tambah Abdul Fattah, pihaknya menyasarkan ahlinya, Koperasi Pembiayaan Syariah Angkasa (Kopsya) bakal menjadi sebuah bank menjelang 2015. Kopsya merupakan syarikat koperasi yang menawarkan perkhidmatan kredit dan pembiayaan kepada para ahli-ahlinya. "Kopsya setakat ini telah menawarkan skim musyarakah mutanaqisah yang berlandaskan syariah. Jadi, Kopsya mungkin akan berkembang sebagai sebuah bank yang menawarkan perkhidmatan dan kewangan Islam,'' ujarnya. Artikel Penuh: http://www.utusan.com.my/utusan/Ekonomi/20130814/ek_04/Kutip-hutang-pinjaman-peribadi-RM91.2-bilion#ixzz2bvDNrx9e © Utusan Melayu (M) Bhd

Islamic finance depositors get even more protection

NEW laws governing the local Islamic finance sector will boost protection for depositors by making religious advisers legally accountable for financial products, and liable to steep fines and prison time for wrongdoing. The new rules also include a plan to require Islamic life insurers to separate the life arm from other parts of their business. The regulations also could spur takeovers in the Islamic insurance sector through capital-base provisions that encourage larger participants. The new Islamic Financial Services Act (IFSA) gives regulators greater oversight as the country seeks to retain its position as the world's second-largest Islamic banking market, with RM395 billion in assets as of May. While there have been no major problems arising from lax standards, the new law - which went into effect last week - is seen as a broad way of enforcing closer adherence to syariah, where the country is already a global leader. One of the most important changes is to make syariah advisers legally liable for the financial products they approve, analysts and industry experts said. The Islamic scholars are hired by banks to assure that financial products abide by syariah standards. The rule-change would encourage advisers to conduct a closer inspection of the financial products they approve, holding them more accountable, said Mohamad Akram Laldin, executive director of the International Syariah Research Academy for Islamic Finance. "This is a step forward, everyone who is involved will know their duties and what is expected of them," he said. Previous rules governing syariah- compliance were just guidelines. The IFSA elevates them to statutory duties, a breach of which could expose licensed financial entities to punishment. Penalties will be more severe, a local lawyer said, with many offences carrying a possibility of up to eight years imprisonment and RM25 million in fines. Investors' protection should also be boosted by another provision that requires banks to distinguish deposits made for savings from those made for investments. Banks will also need to guarantee the principal amount on savings deposits. The IFSA also gives the finance ministry more powers to further scrutinise financial holding companies and non-regulated entities if they pose a risk to financial stability. "From my view, it is quite comprehensive. The challenge is to ensure the enforcement, and to make people understand it," Akram said. The IFSA may also reshape the takaful (Islamic insurance) sector by requiring the separation of life and general business lines, the latter covering property and automobiles. Under the new rules, firms with composite licenses that cover both sectors will have five years to separate the two. Reuters http://www.btimes.com.my/Current_News/BTIMES/articles/Islabank13/Article/

Islamic finance not fully tapped

KUALA LUMPUR: The US$1.6 trillion (RM5.07 trillion) global Islamic finance industry is growing at a third of its potential as efforts to introduce sukuk tax legislation in non-Muslim nations have stalled, according to CIMB Group Holdings Bhd. Syariah-compliant assets account for less than two per cent of conventional equivalents, providing ample room for growth, said Badlisyah Abdul Ghani, chief executive officer at CIMB Islamic Bank Bhd, in an interview. Mohd Effendi Abdullah, the head of Islamic markets at AmInvestment Bank Bhd, said there is a need for more education and innovative new products to achieve that objective. Efforts in South Korea, Australia, France and the United Kingdom to approve regulation have come to a halt, while Thailand is reviving plans to tap the market for the first time after a two-year delay. Nigeria is the latest to grant equal tax treatment, paving the way for a debut sukuk. Opposition from political and religious groups has prevented some nations from embracing banking that complies with the Quran's ban on interest, according to Effendi. "If the rules and regulations to make Islamic finance as accessible as the conventional market are in place, there's no reason why it cannot grow at least three to four times the pace of today," said Badlisyah recently. Global issuance of bonds that pay returns on assets to comply with Islamic principles dropped 8.6 per cent this year to US$19.2 billion after reaching a record US$46.4 billion last year, according to data compiled by Bloomberg. Some countries with Islamic regulations are still reluctant to sell syariah-compliant securities because the conventional market is more developed and issuers are more comfortable with such bonds, Effendi said, citing Singapore as an example. The syariah debt market is dominated by Malaysia, Indonesia and the six-member Gulf Cooperation Council, which includes Saudi Arabia and the United Arab Emirates. Malaysian Islamic finance consultancy Amanie Advisors said asset expansion is healthy and interest will pick up. Bloomberg http://www.btimes.com.my/Current_News/BTIMES/articles/CIMBII/Article/

Malaysia maintaining pole position in Islamic finance

By Hamisah Hamid Malaysia is clearly the current leader in Islamic finance, setting the standards across the industry and marking its thought leadership in the area. Backed with over 30 years of development in Islamic banking and finance, the country now has a deep capital market and broad range of consumer banking and Takaful products that attract both Muslims and non-Muslims. Malaysia now has the critical mass of players - Syariah experts, products, tax incentives as well as legal clarity and certainty that support the expansion of Islamic banking and finance. The country's headship in Islamic banking and finance is the result of the government's political will and the private sector initiatives in enabling an environment of legal, regulatory, supervisory, risk management, Syariah framework and incentives. Under the programme introduced by former prime minister Tun Dr Mahathir Mohamad, the architect of Malaysia's Islamic banking policy in early 1980s, the sector has evolved systematically and comprehensively. Today, Malaysia is home to the largest Islamic banking assets with a current value of US$86 billion (RM284 billion); has the most number of Islamic fund managers with 152 firms managing a total of US$6.5 billion (RM21.4 billion) of funds; its Bursa Malaysia topped the world's exchanges in sukuk listings, recording a total of US$17.6 billion (RM58 billion) in sukuks last year; and with 1,080 sukuk issuances amounting to US$67 billion (RM221 billion), the country accounted for 63 per cent of the global sukuk issued since 2006. Malaysia's position as one of the world's Islamic finance hub is recognised globally, and it has become a role model for many countries. However, in the rapidly changing global economy, the country cannot rest on its laurels especially when its competitors come from the engine of global growth - Asia. There are many aspirants out there which are raising their game to get a slice of the US$1 trillion (RM3.3 trillion) Islamic banking assets such as Singapore and Hong Kong. Tokyo- and Seoul-originated sukuks are also possible in the foreseeable future as South Korea aspires to be North Asia's financial centre, while Japan wants to solidify its standing as one of Asia's international financial hub. Some analysts opined that the relative youth of Syariah-compliant products in these markets would make it harder for them to achieve the same depth as Malaysia. Yet, Singapore and Hong Kong are competing hard, especially in the Islamic capital market, given their position as Asia's centres for conventional private banking and fund management. Although it may be some time before these latecomers catch up with Malaysia, it may not be as far as one expects. Given appropriate regulatory push and incentives, the competitors can leapfrog and overtake Malaysia. Malaysia, thus, needs to build on the momentum it achieved so far to maintain its leadership in the sector. Industry observers believe that to sustain the country's competitiveness, players should come out with more innovative products and not merely offer the Islamic alternative to conventional banking and financial products. In fact, it is timely for players to rally their best experts and think out of the box to design and develop innovative products as differences in syariah interpretation within the Muslim world have narrowed. Internationally, the standardisation issue is almost no longer an obstacle. This is due to greater efforts by syariah scholars to deepen their understanding of rulings in different jurisdictions and the fact that more Islamic products are being structured for the global marketplace. Malaysia may have achieved economies of scale in consumer banking given its large Muslim population, but a lot more needs to be done in the Islamic capital market. Some observers have noted that local Islamic banks are mainly focusing on financing although Islam offers a large scope for the development of financial products. At the same time, Malaysia cannot afford to be lax in human capital development. A knowledgeable workforce is vital to keeping it at the forefront in Islamic banking and finance in future decades. http://www.btimes.com.my/Current_News/BTIMES/articles/MONVIEW4/Article/

80pc convergence rate in Islamic finance issues

THERE is already an 80 per cent convergence rate of Islamic finance issues worldwide, a tremendous achievement for an industry that is still considered to be at its infancy stage. "While 20 per cent of these issues are still outstanding and some of these are very fundamental, the direction towards convergence is there," said Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz yesterday. She said the development of Islamic finance needs to be communicated effectively to create greater awareness among the consumers. She added that as Islamic finance moves forward into the future, the issue of harmonisation of syariah interpretation across different jurisdictions must slowly be ironed out. Zeti said while Islamic finance has been well-embraced by non-Muslims in Malaysia, the same cannnot be said in other emerging countries that are keen to develop the industry. This is where communication between regulators and industry players is essential, she said at a discussion session on the prospects of Islamic finance that she chaired at the 10th International Financial Services Board (IFSB) Summit. The session panelists comprised the United Arab Emirates central bank governor Sultan Nasser Al Suwaidi, former Pakistan central bank governor Ishrat Husain and International Islamic Liquidity Management Corp chief executive officer Professor Rifaat Karim. Zeti noted that two international wires, namely Reuters and Bloomberg have listed on their pages the various Islamic fatwas and rulings together with the explanations, which would facilitate more awareness for Islamic finance issues. "When it comes to awareness and communication, I believe that in Malaysia, when we really wanted to make it better known and create awareness on Islamic finance, the industry came forward and acted together and it has been very successful," she said. She pointed out that between 50 and 70 per cent of the Islamic banks' clients in the country are non-Muslims while more non-Islamic corporations are raising funds through the sukuk market now. http://www.btimes.com.my/Current_News/BTIMES/articles/etiz/Article/

Islamic finance overhaul boosts protection

KUALA LUMPUR/DUBAI: New laws governing Malaysia’s Islamic finance sector will boost protection for depositors by making religious advisers legally accountable for financial products, and liable to steep fines and prison time for wrongdoing. The new rules also include a plan to require Islamic life insurers to separate the life arm from other parts of their business. The regulations also could spur takeovers in the Islamic insurance sector through capital-base provisions that encourage larger participants. Malaysia’s new Islamic Financial Services Act (IFSA) gives regulators greater oversight as the country seeks to retain its position as the world’s second-largest Islamic Banking market, with RM395 billion in assets as of May. While there have been no major problems arising from lax standards, the new law - which went into effect last week - is seen as a broad way of enforcing closer adherence to sharia laws, where Malaysia is already a global leader. One of the most important changes is to make sharia advisers legally liable for the financial products they approve, analysts and industry experts said. The Islamic scholars are hired by banks to assure that financial products abide by Islamic sharia standards. The rule-change would encourage advisers to conduct a closer inspection of the financial products they approve, holding them more accountable, said Mohamad Akram Laldin, executive director of the Malaysia-based International Sharia Research Academy for Islamic Finance. "This is a step forward, everyone who is involved will know their duties and what is expected of them," he said. Previous rules governing sharia compliance were just guidelines. The IFSA elevates them to statutory duties, a breach of which could expose licensed financial entities to punishment. Penalties will be more severe, a Malaysia-based lawyer told Reuters, with many offences carrying a possibility of up to eight years imprisonment and RM25 million in fines. Investors’ protection should also be boosted by another provision that requires banks to distinguish deposits made for savings from those made for investments. Banks will also need to guarantee the principal amount on savings deposits. The IFSA also gives Malaysia’s finance ministry more powers to further scrutinize financial holding companies and non-regulated entities if they pose a risk to financial stability. "From my view, it is quite comprehensive. The challenge is to ensure the enforcement, and to make people understand it," Akram added. The IFSA may also reshape the takaful (Islamic insurance) sector by requiring the separation of life and general business lines, the latter covering property and automobiles. Under the new rules, firms with composite licenses that cover both sectors will have five years to separate the two. Malaysia had 12 direct takaful operators with a combined RM19 billion in assets as of December 2012, central bank data showed. The majority of those assets - 85 per cent - were in family insurance, up 13.3 per cent from a year earlier. Companies need to establish a new board and capital base for each business under the IFSA, making operations more capital-intensive. This could favour companies with large balance sheets, spurring consolidation as smaller players struggle for scale, analysts said. The IFSA is set to affect two-thirds of companies within the takaful sector with composite licenses, with bigger players such as Etiqa Takaful Bhd, Syarikat Takaful Malaysia Bhd and Takaful Ikhlas possibly spared, according to a report by investment bank RHB. The top three operators hold roughly 90 per cent of assets, while several of the smaller firms have suffered losses or shrinking profit. Bigger operators will be eyeing smaller ones. "If their portfolio is attractive, we could be buying up business," said Datuk Hassan Kamil, group managing director of Syarikat Takaful Malaysia, the sector’s second-largest after Etiqa Takaful. Takaful Malaysia will be able to raise funds on the capital market for new acquisitions, being the only listed company among its peers, said Hassan.-- Reuters http://www.btimes.com.my/Current_News/BTIMES/articles/20130712160806/Article/index_html

Sukuk demand still strong, supported by domestic institutional investors

By CECILIA KOK, cecilia_kok@thestar.com.my, KUALA LUMPUR: Demand for Malaysia’s Islamic bonds and sukuk with longer maturity is expected to remain strong, supported by domestic institutional investors, according to Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz. “We have many institutional investors in our domestic system, ranging from those in the insurance industry to pension funds. “They represent a major source of demand for our (debt) papers,” she told reporters after an event to launch the new iconic brand identity, “Malaysia: World’s Islamic Finance Marketplace”. Bloomberg recently reported that Malaysia had plans to roll out 20-year syariah-compliant securities next month. Zeti did not confirm the timing of the issuance of the new securities, which would represent Malaysia’s longest-maturity Islamic debt ever introduced to date, although she did say the issuance would be done “according to plan.” On the recent sell-off of Malaysian bonds, Zeti said there was no reason to over-react. “We’ve seen this from time to time,” she said, noting that a significant amount of the country’s debt papers was held by non-resident investors because of the favourable yields. “Malaysia represents a highly open market and we experience inflows of funds, and sometimes we see reversals,” she explained. Zeti added that Malaysia could cope with such volatility because its financial market was one of the most developed among emerging economies. Meanwhile, Zeti said Malaysia had the capacity and capability to address its fiscal vulnerabilities in a gradual and sequenced manner. “Malaysia still has time to do it; but of course, it is now more urgent because the global environment has become more challenging,” she told reporters. “The recovery that we had expected from major economies has not strengthened. And, going forward, it is very likely that it would continue to remain modest. “Therefore, it is important for us to reduce our vulnerabilities, one of which is in the fiscal area,” Zeti explained, adding that Malaysian policymakers were putting emphasis on increasing the country’s resilience and boosting its potential to sustain economic growth. http://www.thestar.com.my/Business/Business-News/2013/08/02/Sukuk-demand-still-strong-Its-supported-by-domestic-institutional-investors.aspx

CIMB: Need for a comprehensive, effective regulatory framework in countries where Islamic finance is practised

"There is a need for a comprehensive, effective regulatory framework in the many countries where Islamic finance is practised. Without such support, opportunities to scale up cross-border initiatives will be limited," said Badlisyah Abdul Ghani, executive director and chief executive officer of CIMB Islamic Bank. KUALA LUMPUR: The global Islamic finance industry has never been better, with more regulators being receptive to facilitating its growth, said CIMB Islamic after being named the Global Islamic Bank of the Year and Asia-Pacific Islamic Bank of the Year by The Banker, the world’s longest running international banking publication. “This must be translated, however, into actual regulation to enable real facilitation. "There is a need for a comprehensive, effective regulatory framework in the many countries where Islamic finance is practised. Without such support, opportunities to scale up cross-border initiatives will be limited. "The real growth potential of the industry could be three to four times what it is today,” said Badlisyah Abdul Ghani, executive director and chief executive officer of CIMB Islamic Bank. “Malaysia has the most liberalised and conducive market for Islamic finance, one which all other markets in the world should aspire to be. Sukuk has outpaced conventional bonds in terms of growth and the same can be said about Islamic financing in the banking sector in Malaysia. I don’t see this trend changing.” – Bernama, http://www.thestar.com.my/Business/Business-News/2013/08/06/CIMB-Islamic-wins-accolades-from-The-Banker.aspx

Islamic banking shines

IKIM VIEWS, Mohamad Azhar Hashim, Malaysia proves its worth as a global model for a modern and dynamic industry MALAYSIA has succeeded in developing a vibrant and modern Islamic banking and financial industry over the last three decades. The Islamic Banking Act, which came into force in 1983, had paved the way for the nation to develop a vibrant and modern Islamic banking and financial industry. Initially, the industry served as an alternative channel for Muslims to perform banking and financial transactions in accordance with Islamic practices, and thus, avoid practices that have elements of oppression that are prohibited by Islam. As the industry has proven its viability, it is now accepted widely and used by all Malaysians. Apparently, Malaysia has received much recognition in recent years from the global banking and finance fraternity in its effort to develop a viable Islamic banking and finance industry. The country’s Islamic banking and financial industry has always been regarded as a global model for a modern and dynamic industry. Notably, among the achievements the country has achieved in the last three decades are in terms of growth in Islamic banks and financial institution assets, the increased market share of products and services to the total banking and financial system, formulation of legal frameworks and various standards, development of infrastructure and institutional capacity, education and training facilities, and many others. On the international Islamic banking and financial front, Malaysia also dominates the global market for sukuk, and in fact, the country was the first in the world that issued first sovereign sukuk in 2002. Currently, Malaysia’s sukuk issuance accounted for almost three-quarters of total global sukuk issuance. Malaysia is also home to the Islamic Financial Services Board (IFSB), an international standard-setting body. In addition, Malaysia is a renowned destination for the inter­national community in learning and gaining the knowledge and expertise on Islamic banking and finance. This success story reflects the relentless and concerted efforts of the Government and monetary and financial authorities in Malaysia, in particular Bank Negara Malaysia and the Securities Commission. This success list is by no means exhaustive and will continue to grow in line with the expanding global and domestic banking and financial environment. Notwithstanding, one of the many contributions from the growing success of Islamic banking and financial industry in Malaysia that warrants to be highlighted is the recognition given to the graduates of Islamic-based tertiary qualifications. Before the establishment of the first Islamic Bank in Malaysia some 30 years ago, graduates with Islamic-based qualifications, such as studies in Islamic jurisprudence or syariah, fiqh, fiqh Muamalat or other branches of studies that are related to Islam, may find difficulty getting a job in the mainstream economy. Their contribution was restricted to fundamental religious matters, and their job opportunities were very limited. There were perceptions that these graduates could only contribute by being ustaz (religious teacher), and work in a religious school or teach Islamic subjects in national schools. Some may work in religious depar­tments or become an imam in the mosque. Undoubtedly, these are noble professions; and they earn decent salaries for sustainable living. Due to this, if one chooses to study about religion, one may be considered as having no prospects, if we talk in terms of professionalism and monetary rewards coming with it. In this regard, it was obvious that 30 years ago, we could hardly find a person with syariah or fiqh background working in a bank. This perception has been transformed in recent years amidst the rapid growth of Islamic banking and financial industry in Malaysia and also globally. The growth of the industry has created an increasing demand for graduates with Islamic-based qualification to work in the mainstream industry of the economy. Syariah-qualified persons are greatly needed because Islamic banks and financial institutions must adhere strictly to comply with syariah rulings, which are guided by the establishment of various syariah compliance frameworks to guide the institutions’ activities. The Employment Outlook and Salary Guide 2012/2013 published by Kelly Services had reported that the current salary of syariah professionals in Islamic banking and financial institution is very competitive and on par with other professionals. Based on the report, the head of syariah in banking and financial industry currently earns a minimum salary of RM8,000 and a maximum of RM20,000 per month. At this salary scale, the syariah professional’s salary is on par with other professionals, for example, in the area of information and communication technology (ICT), accounting and finance, administration, marketing, investment and other professionals in other industries with the same number of years in experience (five to 10 years) and qualification levels (basic degree or Masters). Compared within the banking and financial industry itself, the salary scale is on the higher bracket of middle management. The report asserted that as Malaysia has become a key Islamic banking and financial hub of Asia, the need for specialised talent in this sector has intensified, with strong emphasis placed on four core sectors in Islamic finance, i.e. Islamic banking, Takaful, Islamic capital market and Islamic money market. The Islamic banking and financial industry in Malaysia has not only grown in size and infrastructure, it has also enabled the industry to recognise the value of Islamic-based qualifications, and elevate the status of Islamic-based qualifications in the mainstream economy. Based on employment and salary trends, it seems that the syariah profession may one day become a profession of choice that will attract many young and talented Muslims, similar to what previous Muslim generations used to aspire, in becoming doctors, engineers, accountants, or lawyers. Indeed, this aspiration is very much needed, in order to support further expansion of the Islamic banking and financial industry in Malaysia. > Mohamad Azhar Hashim is Fellow at the Centre for Economics and Social Studies, IKIM, http://www.thestar.com.my/Opinion/Letters/2013/03/12/Islamic-banking-shines.aspx

Pelabur institusi minat sukuk

KUALA LUMPUR 1 Ogos - Pasaran sukuk di negara ini masih mempunyai permintaan yang tinggi dalam kalangan banyak pelabur institusi. Gabenor Bank Negara Malaysia (BNM), Tan Sri Dr. Zeti Akhtar Aziz berkata, sukuk itu sendiri tercipta kerana wujudnya permintaan yang tinggi. Katanya, salah satu contoh permintaan pasaran sukuk yang tinggi adalah dalam kalangan sistem domestik itu sendiri, terutamanya daripada industri insurans, dana pencen sehingga kepada dana-dana pelaburan yang lain. "Mereka (pelabur) yang berada dalam sistem domestik ini merupakan sumber terbesar permintaan pasaran sukuk pada waktu ini,'' katanya. Beliau berkata demikian kepada pemberita selepas menghadiri majlis pelancaran identiti jenama ikonik baharu 'Malaysia: Pasaran Kewangan Islam Dunia' di sini hari ini. Tambah Zeti Akhtar, pasaran sukuk pada waktu ini telah dikuasai pelabur asing kerana kadar pulangan yang menggalakkan. "Pasaran bon dan sukuk telah dibangunkan secukupnya bagi menghadapi sebarang ketidaktentuan yang akan berlaku," ujarnya. Pasaran sukuk Malaysia dijangka kekal tinggi tahun ini meskipun pasaran global turun naik, terutama di Amerika Syarikat (AS). Malah, Pasaran sukuk Malaysia bakal menyaksikan pertumbuhan sihat seperti tahun lalu bersandarkan asasnya yang kukuh, infrastruktur yang baik, rangka kerja kawal aturan selain sistem Syariah. Pelabur telah melihat Malaysia sebagai sebuah pasaran yang baik untuk diteroka. Artikel Penuh: http://www.utusan.com.my/utusan/Ekonomi/20130802/ek_02/Pelabur-institusi-minat-sukuk#ixzz2bv5wqXiv © Utusan Melayu (M) Bhd

Kewangan berlandas syariah jadi pilihan

Oleh AZMAN IBRAHIM, ekonomi@utusan.com.my, KUALA LUMPUR 17 Mei - Bukan Islam di negara ini telah memilih sistem kewangan Islam kerana yakin terhadap produk yang ditawarkan, kata Gabenor Bank Negara Malaysia, Tan Sri Dr. Zeti Akhtar Aziz. Katanya, setakat ini, antara 50 peratus sehingga 70 peratus pelanggan perbankan Islam adalah di kalangan bukan Islam. "Ini menunjukkan betapa produk kewangan Islam mempunyai potensi di negara ini dan juga di peringkat antarabangsa. "Bukan Islam hanya melihat sama ada produk yang ditawarkan itu sangat kompetitif atau tidak. Di Malaysia, mana-mana perbankan pelaburan yang menerbitkan sukuk turut menjadi pilihan di kalangan pelanggan bukan Islam,'' katanya. Beliau berkata demikian kepada pemberita selepas mempengerusikan forum bertajuk 'Perbincangan panel terhadap pelajaran yang diambil: Prospek masa hadapan' pada hari terakhir sidang kemuncak Lembaga Perkhidmatan Kewangan Islam (IFSB) di sini hari ini. Para panel terdiri daripada Gabenor Bank Pusat Emiriah Arab Bersatu, Sultan bin Nasser Al Suwaidi, Ketua Pegawai Eksekutif Perbadanan Pengurusan Kecairan Islam Antarabangsa, Prof. Rifaat Ahmed Abdel Karim serta bekas Gabenor Bank Kerajaan Pakistan, Ishrat Husain. IFSB berlangsung selama dua hari bermula semalam dengan penyertaan lebih 200 delegasi dari seluruh dunia. Tambah Zeti, sistem kewangan Islam perlu diharmonikan di peringkat antarabangsa supaya dapat diterima oleh setiap lapisan masyarakat dunia. Katanya, adalah amat penting untuk mempunyai dasar koordinasi di antara negara-negara yang memperkenalkan sistem kewangan Islam pada masa hadapan. "Sistem kewangan Islam perlu diharmonikan di peringkat antarabangsa bagi mewujudkan satu standard yang boleh digunapakai oleh setiap negara. "Malah, kesedaran oleh pengawal selia regulator dan dari pihak industri sendiri amat penting terhadap sistem kewangan Islam ini. Kini, saya dapati terdapat ruang untuk berkembang,'' ujarnya. Artikel Penuh: http://www.utusan.com.my/utusan/Ekonomi/20130518/ek_01/Kewangan-berlandas-syariah--jadi-pilihan#ixzz2bv4uGkon © Utusan Melayu (M) Bhd

Pasaran wang: Kadar jangka pendek ditutup kukuh

KUALA LUMPUR 14 Jun - Kadar jangka pendek ditutup kukuh hari ini dengan Bank Negara Malaysia (BNM) terus campur tangan dalam pasaran wang untuk menyerap lebihan mudah tunai daripada sistem kewangan. Kadar semalaman kekal tidak berubah pada 2.92 peratus sementara kadar satu, dua dan tiga minggu, masing-masing pada 2.97 peratus, 3.01 peratus dan 3.04 peratus. Lebihan mudah tunai dalam operasi konvensional telah dikurangkan kepada RM15.529 bilion daripada RM22.039 bilion yang dianggarkan pada awalnya sementara dalam sistem perbankan Islam ia berkurangan kepada RM4.480 bilion daripada RM7.273 bilion sebelumnya. Terdahulu, BNM telah mengemukakan empat tender konvensional semalaman dan empat tender Al-Wadiah. Bank pusat turut menerbitkan tender lewat konvensional untuk sejumlah RM15.6 bilion dan RM4.5 bilion tender Al-Wadiah, kedua-duanya untuk wang tiga hari. - BERNAMA 0Share 0Share 0Share 0Share 0Share 0Share 0Share Artikel Penuh: http://www.utusan.com.my/utusan/Ekonomi/20130614/ek_05/Pasan-wang:-Kadar-jangka-pendek-ditutup-kukuh#ixzz2bv49BOLM © Utusan Melayu (M) Bhd

Memperkasa gerakan koperasi

ANGKATAN Koperasi Kebangsaan Malaysia Berhad (Angkasa) telah melalui pelbagai transformasi sejak 2009 yang menyaksikan organisasi itu memberi keutamaan kepada kegiatan pengembangan perniagaan berbanding penganjuran kursus, latihan dan seminar. Transformasi yang dilakukan itu telah meningkatkan tahap profesionalisme Angkasa sebagai badan puncak yang menaungi lebih 6,000 koperasi ahli di seluruh negara. Presiden Angkasa, Prof. Datuk Dr. Mohd. Ali Baharum (gambar) merupakan tenaga penggerak utama dalam merancang dan menggemblengkan sumber-sumber yang dimiliki organisasi itu dalam menjayakan wawasan menuju kegemilangan. Dalam wawancara eksklusif bersama wartawan Utusan Malaysia, HUSSAINI AMRAN dan jurugambar, TENGKU MUHAMMAD FAKHRUDDIN di pejabat pengurusan Koperasi Pembiayaan Syariah Angkasa Berhad (Kopsya) di Kelana Jaya, Selangor baru-baru ini, Mohd. Ali berkongsi pendekatan yang diambilnya bagi memperkasakan Angkasa yang diterajuinya sejak empat tahun lalu. UTUSAN: Boleh jelaskan secara ringkas pencapaian Angkasa sejak Datuk dilantik sebagai Presiden sehingga sekarang? MOHD. ALI: Sejak saya dilantik sebagai Presiden pada 2009 sampai kini, banyak perubahan dilakukan oleh Angkasa sebagai gerakan koperasi. Aktiviti yang dijalankan oleh Angkasa memberi kesan positif kepada gerakan koperasi di negara ini. Pada 2009, kita telah mengadakan konvensyen bagi membincangkan tentang hala tuju Angkasa yang dihadiri kira-kira 3,000 peserta. Konvensyen itu membincangkan apa yang perlu dilakukan oleh gerakan koperasi pada masa akan datang. Saya sendiri membentangkan kertas kerja dalam konvensyen tersebut. Hasil daripada konvensyen sehari itu, saya melihat banyak cadangan diutarakan. Cadangan apakah yang dikemukakan pada konvensyen berkenaan? Pertama, kita mesti mengubah Undang-undang Kecil Angkasa yang pada masa itu tidak begitu fleksibel dan tidak membenarkan kita mempelbagaikan aktiviti. Bukan Angkasa tidak boleh bergiat dalam aktiviti lain sebelum itu tetapi terdapat kekangan pada Undang-undang Kecil Angkasa. Pada masa itu, kita lebih fokus kepada aspek penganjuran latihan, kursus dan seminar sahaja. Tiada aktiviti perniagaan. Susulan konvensyen itu, kita membuat keputusan bahawa Angkasa harus berniaga. Kita harus terlibat dalam perniagaan bagi membantu ahli-ahli kita terdiri daripada 90 peratus koperasi kecil dan sederhana serta hanya 10 peratus koperasi bertaraf kelas A yang mampu berdikari contohnya Koperasi Bank Rakyat, Koperasi Felcra, Koperasi Felda, Koperasi Polis Diraja Malaysia dan Koperasi Tentera. Apabila kita bantu koperasi-koperasi kecil ini, oleh kerana jumlahnya besar, kesannya juga jadi besar. Kita memutuskan Angkasa perlu melibatkan diri dalam aktiviti perniagaan dan membimbing koperasi-koperasi ahli dalam bidang perniagaan. Bagi membolehkan perkara ini dilakukan, kita telah meminda Undang-undang Kecil Angkasa pada mesyuarat agung khas di Pulau Pinang pada 2010. Hasil pindaan itu, Angkasa boleh menceburi apa sahaja jenis perniagaan. Tidakkah berlaku pertembungan kepentingan dengan koperasi-koperasi ahli setelah Angkasa bergiat dalam perniagaan? Kita telah meyakinkan koperasi-koperasi ahli bahawa perniagaan yang diceburi Angkasa mesti mempunyai impak tinggi di dalam masyarakat. Perniagaan itu juga tidak mengakibatkan pertembungan dengan kegiatan yang dijalankan koperasi ahli. Sekiranya Angkasa terpaksa menceburi bidang yang sama, kita akan menaik taraf perniagaan koperasi ahli terbabit. Dengan kaedah itu, kita membantu koperasi ahli dan bukannya menjadi pesaing mereka. Angkasa juga mesti fokus dan mempunyai perangkaan program yang luas bagi membantu gerakan koperasi dan seterusnya membantu mengembangkan ekonomi negara menerusi peningkatan kadar Keluaran Dalam Negara Kasar (KDNK). Untuk tujuan itu, kita telah mencerakinkan apa yang patut dilakukan. Angkasa berfungsi sebagai badan puncak, dan koperasi-koperasi di bawahnya mempunyai pelbagai fungsi. Ada fungsi kredit, perbankan, kepenggunaan, peruncitan, sekolah dan perumahan. Jadi, kita harus menguruskan semua fungsi itu namun kita tidak dapat melakukannya sekali gus dalam masa terdekat disebabkan kekangan yang banyak. Oleh itu, saya menggunakan prinsip yang diamalkan dalam pengurusan Islam. Kalau kita tidak boleh buat semua, kita jangan tinggal semua. Mesti buat juga walaupun satu. Bagaimana Angkasa meletakkan keutamaan bidang perniagaan mana yang ingin diceburi? Keutamaan kita yang paling tinggi adalah sumber dana. Kita tubuhkan Koperasi Pembiayaan Syariah Angkasa Berhad (Kopsya) tahun lalu bagi membolehkan koperasi-koperasi ahli menyalurkan dana lebihan. Koperasi juga mendapat dana untuk pembiayaan. Kenapa dinamakan koperasi pembiayaan? Dalam konsep pengurusan Islam, kita tidak boleh menamakannnya koperasi pinjaman kerana tidak patuh syariah. Pembiayaan macam berniaga. Kalau pinjaman bukan berniaga. Bagi pinjam, kalau ambil lebih jadi riba. Ada dua pendekatan pembiayaan ini. Pertama, koperasi beri kepada kita dan kedua, kita beri kepada koperasi. Fungsi Kopsya yang ditentukan oleh Suruhanjaya Koperasi Malaysia (SKM) ada tiga perkara asas iaitu memberi pembiayaan kepada koperasi kredit untuk mendapat dana bagi pinjaman kredit kepada ahli-ahlinya; memberi pembiayaan kepada koperasi khasnya koperasi perumahan untuk memberi pembiayaan perumahan kepada ahli-ahli mereka dengan menggunakan kaedah muamalah musyarakah mutanafisah (MM) dan membiayai pembangunan aset koperasi contohnya tanah. Alhamdulillah, kita telah melakukan semua itu dan sudah berjaya. Perkembangan sekarang cukup bagus dan Kopsya kini mempunyai lebih 500 koperasi ahli. Kopsya pun sudah memberi pembiayaan kepada banyak koperasi. Mereka juga mula yakin dengan Kopsya. Sudah tentu banyak cabaran dalam masa setahun Kopsya berkoperasi. Pendekatan apakah yang Datuk gunakan untuk menangani segala cabaran itu? Kita kaji kekuatan, kelemahan, peluang dan ancaman terhadap Kopsya dengan menggunakan analisis SWOT. Bercakap tentang kekuatan, Angkasa mempunyai lapan juta ahli yang berada di bawah kira-kira 6,000 koperasi ahlinya di seluruh negara. Kita akan mempunyai dana yang besar sekiranya ada kaedah untuk mendapatkannya daripada lapan juta ahli itu. Kelemahan dan ancaman Kopsya pula ialah kita tidak boleh menerima ahli individu secara terus. Kita hanya boleh menerima ahli melalui koperasi sahaja. Keadaan ini seperti satu kerugian kepada kita. Terdapat kira-kira 10,300 koperasi di Malaysia dan Kopsya menyasarkan kesemuanya sebagai ahli. Bagi mengatasi kelemahan dan ancaman itu, Kopsya telah merancang beberapa program dan produk. Kita telah mengemukakan beberapa mekanisme kontrak yang wujud dalam syariah sepenuhnya yang tidak ditawarkan oleh pihak lain. Mereka menggunakan pembiayaan berasaskan hutang tetapi kita lebih kepada pembiayaan aset atau ekuiti yang berteraskan perkongsian. Contohnya, katakan sebuah rumah berharga RM200,000. Kalau kita menggunakan konsep pembiayaan berasaskan hutang, pihak bank akan membeli rumah itu dan menjualnya kepada pelanggan pada harga RM350,000. Berbeza dengan konsep pembiayaan aset atau ekuiti yang diamalkan Kopsya. Kita beli rumah pada harga yang sama dengan pelanggan dan Kopsya membiayai 90 peratus daripada harga rumah. Baki 10 peratus dibiayai oleh pelanggan. Dalam konsep ini, pelanggan yang juga koperasi ahli Kopsya tidak berhutang dengan kita kerana ia dianggap sebagai pelabur. Kita juga menggunakan pendekatan berunding untuk memastikan pelanggan menepati jadual pembayaran. Semakin banyak yang dibayar semula, semakin bertambah pegangan pelanggan dalam aset itu. Pada masa sama, pegangan Kopsya semakin berkurangan. Konsep ini tidak membebankan pelanggan kerana mereka membeli aset pada harga pasaran. Menyentuh tentang peluang, kita telah melancarkan produk pembiayaan membeli rumah pada 15 Jun lalu. Produk terbaharu ini membuka peluang untuk menyalurkan lebih banyak dana kepada Kopsya. Kita berharap lebih banyak koperasi menjadi ahli Kopsya supaya mereka boleh menawarkan produk ini kepada ahli-ahli. Pendekatan yang diambil Kopsya ini menyerupai konsep yang diamalkan Kesatuan Koperasi Pengguna Jepun (JCCU). JCCU melaksanakan konsep ini menerusi perniagaan pasar raya di seluruh Jepun dengan menawarkan produk pada harga berpatutan kepada pelanggan. Saya berharap melalui Kopsya, Angkasa juga dapat mewujudkan suasana serupa agar ahli-ahli koperasi yang bernaung di bawahnya dapat menerima manfaat secara langsung. Produk-produk lain yang ditawarkan Kopsya? Selain pembiayaan ekuiti, kita juga menawarkan kepada koperasi ahli kemudahan pembiayaan sehingga 10 kali ganda daripada dana mereka. Secara tidak langsung, kaedah pembiayaan ini menggalakkan koperasi berlumba-lumba menambah ahli agar lebih banyak dana dapat dikumpulkan. Lebih banyak dana koperasi itu, lebih tinggi nilai pembiayaan yang boleh diterimanya. Kita juga menawarkan produk simpanan tetap Al-Wafi yang menawarkan kadar pulangan kompetitif sebanyak 4.5 peratus setahun kepada ahli-ahli koperasi. Kita mahu mewujudkan kesetiaan ahli terhadap koperasi melalui kaedah ini dan seterusnya mencetuskan minat mereka untuk menggunakan perkhidmatan Kopsya. Kita berhasrat untuk menjadikan kesemua koperasi sebagai ‘cawangan’ kepada Kopsya. Di samping itu, Kopsya telah berbincang dengan sebuah institusi kewangan untuk mengadakan penjenamaan bersama. Ahli-ahli boleh menggunakan kemudahan institusi kewangan terbabit seperti cek, mesin ATM dan perkhidmatan bayaran gaji. Bagaimana dengan kegiatan perniagaan lain di bawah Angkasa? Kita turut merancang untuk memperkasakan aktiviti peruncitan. Kita telah memulakan rangkaian perniagaan runcit melalui pengambilalihan kira-kira 2,400 koperasi sekolah dengan menaik taraf daripada penjualan alat tulis sahaja kepada barang runcit. Kempen sedang dijalankan di seluruh negara. Ada koperasi sekolah yang beroleh hasil jualan antara RM800,000 hingga RM1 juta setahun. Angkasa juga menggalakkan pembukaan koperasi masjid agar peranan institusi itu sebagai pusat aktiviti kemasyarakatan dapat dipertingkatkan. Kita merancang untuk membuka sebuah pusat pengedaran peruncitan sendiri bagi membolehkan produk-produk dijual pada harga berpatutan. Perikatan Koperasi Antarabangsa (ICA) juga merancang untuk membuka rangkaian pasar raya di negara-negara ahlinya dan apabila perkara itu berlaku, Angkasa sebagai badan puncak koperasi ini Malaysia akan turut terlibat. Angkasa telah menjalinkan kerjasama dengan sebuah syarikat untuk memasarkan produk telekomunikasi di seluruh negara. Sebuah lagi syarikat milik Angkasa, MyAngkasa Holdings Sdn. Bhd. telah membuka dua pusat dialisis di Temerloh, Pahang dan Pulau Pinang. Setiap pelanggan yang datang ke pusat dialisis kami tidak perlu mengeluarkan wang sendiri. Pembiayaan dibuat menerusi Pertubuhan Keselamatan Sosial (Perkeso), insurans atau zakat. Sekiranya tidak berjaya mendapatkan pembiayaan juga, kami akan biayai. Perkhidmatan yang dibuka sejak lima bulan lalu terbuka kepada semua anggota masyarakat. Artikel Penuh: http://www.utusan.com.my/utusan/Rencana/20130618/re_01/Memperkasa-gerakan-koperasi#ixzz2bv3mzOC5 © Utusan Melayu (M) Bhd

Had tempoh pinjaman peribadi

Oleh FADZIL ZAINOL, ekonomi@utusan.com.my, KUALA LUMPUR 5 Julai - Bank Negara Malaysia (BNM) hari ini menetapkan tempoh pinjaman peribadi maksimum dihadkan selama 10 tahun manakala pinjaman pembelian rumah dihadkan selama 35 tahun. Sebelum ini, had tempoh pinjaman peribadi ialah 25 tahun manakala pinjaman pembelian rumah ialah 45 tahun. Gabenor Bank Negara Malaysia, Tan Sri Dr. Zeti Akhtar Aziz berkata, langkah itu bertujuan mengekang hutang isi rumah ketika ini berada pada paras 83 peratus daripada keluaran dalam negara kasar (KDNK). Katanya, paras tersebut adalah yang tertinggi di Asia daripada kalangan negara-negara ekonomi berkembang pesat. Malah meningkat 12 peratus daripada 70 peratus pada 2009. Selain memendekkan had tempoh pinjaman peribadi dan pembelian aset, larangan turut dikenakan bagi menawarkan produk pembiayaan peribadi yang diluluskan terlebih dahulu. "Langkah yang berkuatkuasa serta-merta bagi melengkapkan langkah terdahulu yang dilaksanakan sejak tahun 2010 untuk mengawal perbelanjaan isi rumah. "Isi rumah perlu memikirkan kemampuan mereka sebelum berbelanja. Sebagai contoh, jika tidak mampu membeli rumah, mereka boleh menyewa. "Malah terdapat pinjaman peribadi dilakukan semata-mata bagi menanggung kos perkahwinan yang tinggi," katanya kepada pemberita pada sidang akhbar di sini hari ini. Bagaimanapun, had bagi tempoh pembiayaan itu tidak melibatkan permohonan yang dibuat sebelum hari ini. Langkah ini dilaksanakan menurut seksyen 31(1)(a) Akta Bank Negara Malaysia 2009 dan terpakai pada semua institusi kewangan yang dikawal selia oleh BNM, serta koperasi kredit yang di bawah kawal selia Suruhanjaya Koperasi Malaysia, dan Malaysia Building Society Bhd. dan AEON Credit Service (M) Bhd. Sehingga Mac 2013, hutang isi rumah Malaysia berjumlah RM784 bilion yang mana 44.6 peratus daripadanya merupakan hutang membeli kediaman. Diikuti hutang membeli kenderaan (17.6 peratus) dan pinjaman peribadi (16.8 peratus). Tambah Zeti Akhtar, langkah itu tidak dilihat menjejaskan permintaan domestik yang selama ini pendorong utama pertumbuhan ekonomi negara. "Ekonomi negara sepatutnya disokong oleh peningkatan pendapatan serta kadar pengangguran yang rendah," katanya. Gabenor itu berkata, perbincangan mengenai had baharu pinjaman tersebut telah dibincangkan dengan perbankan dan pemberi kredit tempatan, dan mereka menyokong langkah berkenaan dalam usaha mengawal hutang isi rumah negara. Bagi menambah baik pengurusan hutang yang bertanggungjawab oleh isi rumah, BNM akan mempergiat usahanya dalam menyediakan pendidikan kewangan kepada semua segmen masyarakat, termasuk mereka yang masih muda dan peminjam kali pertama daripada institusi kewangan. Di samping itu, rangka kerja perlindungan pengguna akan terus diperkukuh di bawah Akta Perkhidmatan Kewangan dan Akta Perkhidmatan Kewangan Islam. 3Share 242Share 0Share 0Share 0Share 0Share 0Share Artikel Penuh: http://www.utusan.com.my/utusan/Ekonomi/20130706/ek_01/Had-tempoh-pinjaman-peribadi#ixzz2bv3IFeFJ © Utusan Melayu (M) Bhd