An Onlıne Introductory Webınar About ASAS Was Held In Collaboratıon Wıth TKBB On March 7th , 2023

Islamic finance requires versatile Shariah scholars to guide all the stakeholders including the regulators, the industry players, the academicians and the Muslim community at large. Continued learning programme with appropriate assessments will increase the competency of the scholars in areas such as governance, best practices and actual industrial applications. Sharing the Malaysian journey, challenges and continuous preparation with TKBB stakeholders and participants will open opportunities for clarifications moving toward closer engagement between TKBB and ASAS.

The webinar saw the active participation of 35 professionals in Islamic finance including members of the TKBB Advisory Board, Department of Shariah-compliance (Participation Finance), Law, Training and Education of TKBB 6 member banks (Albaraka Türk, Türkiye Emlak Katılım, Türkiye Finans, Kuveyt Türk, Vakıf Katılım, and Ziraat Katılım) and delegations from research centre in the field of Islamic Finance in Azerbaijan. The webinar was moderated by Mrs. Fatma Çınar, Director at TKBB started with the opening remarks by Makhtar Abdullah, CEO of ASAS.

Mr. Makhtar Abdullah, CEO of ASAS said ‘’Both organizations (TKBB and ASAS) have unique ecosystems that will allow cross-learning and knowledge sharing initiatives. The exchange of subject matter experts will also fast-track the progress of the industry with capabilities to address challenging stakeholders' demands. Preparation of adequate succession human talent at various levels (scholars, academicians, industrial workforce and regulators) will ensure the sustainability of the industry in the next economic cycle. We appreciate that TKBB is very ambitious in playing its role and bridging the connection between Türkiye and Malaysia.

After the keynote speeches, Mr. Makhtar Abdullah delivered a presentation on the establishment, functions, and role of ASAS. This presentation also clarified further about the Certified Shariah Advisor (CSA) and Certified Shariah Practitioner (CSP) certification programmes, ASAS Membership and Continuing Professional Development opportunities. CSA and CSP are the two certification programmes entrusted by Bank Negara Malaysia to ASAS since 2017. Both programmes aim to close the knowledge gap between the Shariah educated Scholars and the practitioners. The twenty-two modules (22) structured utilizing around eighty-eight (88) subject matter experts in Malaysia. As of 2022, the programmes cover about 80% of Shariah Scholars serving Malaysian Central Bank and 30% industrial senior Shariah work force. The programmes are also co-sponsored under Malaysian national professional capacity building in financial sectors.

The presentation ended with a discussion on the opportunities and challenges for developing the Islamic finance ecosystem and projects between Türkiye and Malaysia.

Association of Shariah Advisors in Islamic Finance Malaysia (ASAS)

Premised on the main objective of having a global entity to ensure professionalism among Shariah advisors and experts in the Islamic finance world, the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS) was established and officially registered on 12 April 2011. In Financial Sector Blueprint 2022-2026, ASAS is included under Strategic Thrust 5 - Advance value-based finance through Islamic finance leadership. ASAS is also entrusted to support the Global gateway for Islamic Finance Market in Asia and OIC. Focusing on a vibrant talent ecosystem serving global Islamic finance needs (together with INCEIF & IBFIM).

Given the importance of talent to the Islamic finance ecosystem as well as the above expectation, ASAS, with the support of Bank Negara Malaysia, has developed a Professional Development Programme (PDP) that aims at enhancing the knowledge and competency of its members in Islamic finance specifically in providing impactful Shariah advisory services to its counterparty as well as ensuring that innovative and creative talents are being nurtured. The PDP comprises ASAS flagship certification programmes for Shariah Advisors namely Certified Shariah Advisor and Certified Shariah Practitioner as well as the continuous learning and experience-based programme namely the Continuing Professional Development.