SC: Islamic wealth management industry set to evolve

“Practitioners of Islamic wealth management can harness the power of technology to optimise their services," Awang Adek said.

KUALA LUMPUR: The Islamic wealth management industry is poised to continue evolving in response to changing market needs and emerging trends, says Securities Commission (SC) executive chairman Datuk Seri Dr Awang Adek Hussin.

Awang Adek said the industry must embrace innovation while adhering to the highest standards of corporate governance and professionalism guided by Islamic values to remain competitive and relevant in today’s environment.

“Practitioners of Islamic wealth management can harness the power of technology to optimise their services.

“By embracing digital solutions, practitioners can stay ahead of the curve and deliver greater value to their clients,” he said in his keynote address at the 11th Malaysian Financial Planning Council conference on syariah wealth management and financial planning here yesterday.

Awang Adek highlighted that mobile apps and online portals, developed by financial technology firms, can provide clients with comprehensive access to real investment portfolios, real-time market insights and personalised financial advice.

He also noted that the SC had spearheaded efforts to strengthen the regulatory framework and facilitate innovation to promote the growth of Islamic wealth management. This includes the Islamic Wealth Management Blueprint introduced in 2017, which outlines three strategic thrusts: strengthening Malaysia’s position as a global hub for Islamic finance, establishing the country as a regional centre for syariah-compliant sustainable and responsible investment and developing it as an international provider of Islamic wealth management services. — Bernama

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