Crusing with Islamic Finance Experts (CWIFE)

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Muthanna Saari

Abstract

IAIS Malaysia made an exceptional attempt to bring its training on Islamic Finance out of its typical setting by organising ‘Cruising with Islamic Finance Experts’ (CWIFE). Staged by the SuperStar Libra cruise ship, this event saw participants travel from Port Klang to Phuket to Penang, and then back to Port Klang, in a four-day, three-night cruise held from 29 April to 2 May 2018. Breezing across the blue ocean of the Straits of Malacca and Andaman Sea off the south-west coast of Thailand, CWIFE comprised two training programmes in one event, covering the topics ‘Shari’ah Compliance and Regulatory Framework’ and ‘Understanding Bank Negara Malaysia’s (BNM) Shari’ah Standards: Murabahah, Tawarruq, Ijarah, Rahn, Qard, Waad, Hibah, and Wakalah’. Specifically, the training was conducted to equip participants with an understanding of the application of the laws, rules and standards governing the Islamic finance industry in Malaysia, as per the requirements of the BNM standards on various contracts in Islamic financial practice.

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Significant Developments, Speeches and Events