Wan Ahmad Rudirman Wan Razak, Chief Executive Officer of MIA
En Mohd Muazzam Mohamed, Chairman, MIA Islamic Finance Committee, distinguish committee members, respected guest, partners.
Ladies and Gentlemen
Assalamualaikum & Good Afternoon
Let me express my deepest gratitude for the privilege of officiating this event. Welcome to the MIA Islamic Finance Pupillage Programme 2021/2022 Certification Ceremony.
We are here today to celebrate the achievements of the graduating cohort of the MIA Islamic Finance Pupillage programme for 2021/2022.
MIA is delighted to finally be able to hold the certification ceremony physically again in 2023, as we were unable to do so for the last programme due to restrictions arising from COVID-19 challenges and policies.
The IF Mini Pupillage programme is an integral part of MIA’s advocacy for building capacity and competency in Islamic finance. This advocacy connects to our nation building purpose, where we strive to catalyse key relevant sectors for sustainable economic and social development.
MIA prioritises Islamic finance as the industry continues to thrive as an iconic sector of the Malaysian economy and requires the provision of accountancy and financial expertise by a talent pool of high-calibre accountancy professionals.
High quality talent is indispensable if Malaysia is to sustain its global leadership in Islamic finance. Malaysia ranked first out of 135 countries in the Islamic Finance Development Indicator 2021 for the second year in a row, as reported by financial markets data provider Refinitiv.
Specifically, MIA leverages on its strengths as the national accountancy regulator and developer to elevate talent development and thought leadership in the Islamic finance sector.
Over the years, MIA has established several initiatives to upskill accountancy and finance professionals in Islamic finance to address the industry’s skills gap and talent scarcity. Complementing the Islamic Finance Pupillage programme that equips accountants and finance professionals with specialised Islamic finance knowledge and industry best practices, MIA also organises the Islamic Finance Conference for the benefit of its members who work in Islamic finance.
To amplify thought leadership, MIA embarked on a joint initiative in 2022 with the International Federation of Accountants (IFAC) to highlight Malaysia’s advances in Islamic finance through a series of articles, focusing on areas such as environmental, social and governance (ESG) and value-based intermediation for sustainability, waqf, digital transformation and fintech. These can be accessed both on the IFAC Knowledge Gateway and the MIA knowledge portal e Accountants Today or e-AT. MIA is also working together with IFAC to organise a roundtable in 2023 to gather fresh perspectives on Islamic finance for the sector’s future development, and articulate the leadership roles and pathways for growth that are relevant for the profession and accountants.
Last November, in the World Accountant Congress which was held in Mumbai, India. We had an opportunity for a personalised session with newly elected IFAC President, Mdm Asma Resmuki, one of the points of discussion was on the Islamic Finance space. She is in full support of MIA initiatives and authenticated that Malaysia is the world’s leading country in Islamic Finance.
Other initiatives to strengthen thought leadership, knowledge acquisition and competency building in the Islamic finance sector include the publication of the second e-booklet of case studies compiled from our Islamic Finance Pupillage Programme 2017/2018 and the publication of the MIA textbook on Accounting for Islamic Finance in 2020, led by the MIA Islamic Finance Committee and the Malaysian Accountancy Research and Education Foundation (MAREF).
Ladies and gentlemen,
To conclude my remarks, I wish to extend my heartiest congratulations to the graduates. This certification will undoubtedly add value to your portfolio, uplift your professionalism and competitiveness, and enlarge the talent pool of accountants knowledgeable in Islamic finance who are able to elevate their organisation, the industry at large, the accountancy profession and the nation through their skills.
The Institute also wishes to thank our partners, our stakeholders and our team who have facilitated the pupillage programme. Anchored by our strategic collaboration approach, MIA will continue to engage with our partners and stakeholders to identify opportunities for adding future value in the Islamic finance sector. In particular, we will focus on potentials deriving from ESG that are aligned with the profession’s sustainability agenda.
Last but not least, do enjoy the ceremony and the luncheon. Thank you and stay safe.
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No.8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia.
The use of the word ‘Accountant’
In Malaysia, the word ‘Accountant’ is protected as provided for under the provisions of the Accountants Act 1967 which states that no one can hold himself out or practise as an Accountant unless he is registered as a member of the Malaysian Institute of Accountants.
‘The Malaysian Institute of Accountants is committed to the observance and practice of the highest ethical standards of the accountancy profession. All PC holders are reminded that under the MIA By-Laws (On Professional Ethics, Conduct And Practice), no person shall practice or hold out anything on audit/tax services without a license approved by the Ministry of Finance. Every PC holder is therefore expected to comply fully with Section B200.1 to B200.6 of the MIA By-Laws (On Professional Ethics, Conduct And Practice) failing which, you may be held liable for unprofessional conduct and disciplinary action may be taken against you.’