IKIM to hold seminar on Islamic business, banking laws

THE Institute of Islamic Understanding Malaysia (IKIM) will organise a seminar on Towards the promulgation of a more comprehensive Islamic business and banking laws in Malaysia in Kuala Lumpur on Feb 18-19. 

IKIM said in a statement that the seminar aimed to examine the current legal framework for Islamic business and banking activities in Malaysia and to identify law-related problems and issues facing the sector. 

The institute also aims at suggesting ways and means to address such problems and issues so that the implementation of Islamic business and banking becomes smooth and effective. 

Apart from that, it also hopes to explore the prospect for the introduction of an Islamic commercial code to spearhead further growth of Islamic business and banking activities in the country, as well as giving the opportunity for exchange of ideas among players and experts in the field. 

IKIM said Islamic business and banking had been practised in Malaysia for more than 20 years. 

It said Malaysia itself was recognised by the international community as an important player in this sector. 

“However, given the fact that business and banking are two fast developing sectors, it is felt that to consolidate their position in the current environment, Islamic business and banking in Malaysia need a more appropriate legal support in the form of new laws and suitable dispute settlement mechanism,” IKIM said. 

The seminar to be officially opened by Second Finance Minister Datuk Dr Jamaludin Mohd Jarjis at IKIM is meant for corporate bodies, businessmen, entrepreneurs, bankers, lawyers, corporate and business advisers, academicians, students in the respective fields, syariah experts, muftis, lecturers and regulatory bodies. 

A fee of RM250 will be charged for each participant.  

For details, contact 03-62046201 (Mohd Shahriza Sulaiman), 62014189 (fax) or e-mail sarina@ikim.gov.my/shahriza@ikim.gov.my. – Bernama 

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