Singapore, April 27, 2024 - iBantu in partnership with SSTC Institute, recently conducted a comprehensive training workshop to enhance the knowledge and skills of Singapore Maybank's Relationship Managers in Islamic Wealth Management (IWM). This initiative aligns seamlessly with Maybank's strategic direction to become a Global Leader in Islamic Banking. Maybank Singapore wants to propose Singapore as the hub center for its IWM, considering its reach extends to Southeast Asian markets and the Gulf Cooperation Council (GCC) countries. The end goal is to widen the base of investors, including non-Muslims, by aligning the essence of Islamic Finance's five key pillars with the principles of value-based investing that appeals to diverse clients.
A key strategy of this initiative is to skill up the relationship manager. Each relationship manager undergoes rigorous training and certification to ensure they fully grasp the intricacies of a wide range of wealth offerings, including values-based principles, enabling them to communicate the benefits and distinctions to clients effectively. To follow up on this, the workshop entitled "Foundation in Islamic Wealth Management" spanned over two days, offering invaluable insights into the principles and practices of managing wealth in accordance with Islamic finance principles.
The first day workshop commenced with an engaging virtual session via Zoom on April 18, 2024, where participants had the opportunity to delve into the fundamentals of Islamic Wealth Management. Led by the principal trainer of SSTC Institute under the centre of excellence for Islamic banking and finance, Mr. Damar Osman and esteemed trainer and Islamic finance expert, Prof. Dr. Zulkarnain Muhammad Sori, the session provided a robust foundation for understanding the ethics and unique characteristics of Islamic financial products and their relevance to a diverse clientele. Notably, 31 enthusiastic participants alongside key observers representing various departments actively participated in the enriching discourse.
The momentum continued into the second day of the face-to-face workshop on April 19, 2024, at HR Training Room, L2, Maybank Centre. Mr. Damar Osman and Dr. Hazik Mohamed took the reins, guiding participants through advanced concepts and practical applications of Islamic wealth management. The interactive nature of the session facilitated deeper insights into the case study in Islamic wealth management and building an Islamic investment portfolio with a focus on aligning financial goals with Islamic principles.
By the conclusion of the course, participants emerged equipped with a comprehensive skill set, enabling them to confidently recommend Islamic wealth management products tailored to meet the unique needs of a diverse clientele. Demonstrate proficiency in the core principles, including the five pillars of Islamic wealth management. Differentiate between Islamic and conventional wealth management approaches, emphasizing ethical practices and values. Evaluate customers' financial objectives through the lens of Islamic wealth management, particularly focusing on the foundational pillars.
The collaborative effort between Ibantu and SSTC Institute underscores a shared commitment to fostering excellence and innovation in Islamic finance. This initiative aims to facilitate sustainable growth and prosperity within the Islamic finance sector by empowering Singapore Maybank's Relationship Managers with specialized knowledge and skills.
For more information about upcoming workshops and collaborative endeavors, please visit iBantu https://www.ibantu.co/ and SSTC Institute https://sstc.edu.sg/
