INDUSTRI PERBANKAN ISLAM MENGHADAPI KEKURANGAN PAKAR

Di petik dari : http://bicarabisnes.wordpress.com/category/kewangan-islamislamic-finance/
31 Jan 2008

Industri perbankan Islam, yang sedang mengalami pertumbuhan yang pesat kini kemungkinan menghadapi kekurangan pakar. Perbankan Islam yang menumpukan kepada perniagaan tanpa riba dan amalan-amalan yang bertentangan dengan syari’a dijangka mengalami pertumbuhan dalam linkungan 15% hingga 20% setahun. Sektor ini juga diramal oleh syarikat perunding-cara McKinsey & Co akan mencapai nilai asset sebanyak AS$1 trilion menjelang tahun 2010.

Apa yang menjadi kekhuatiran ialah pertumbuhan ini tidak setanding dengan jumlah mereka yang dianggap pakar dalam bidang ini. Menurut Sheikh Nizam Yaqubi, seorang pakar syari’a yang ulung, walaupun lebih ramai tenaga pakar sedang dilatih sekarang ini, tetapi jumlah yang terlibat tidak dapat menampung keperluan ataupun permintaan sejagat.

Pada pendapat beliau, keperluan adalah dalam lingkungan sepuluh-kali ganda daripada tenaga pakar yang akan dihasilkan. Keadaan demikian boleh melambatkan proses pertumbuhan sektor Perbankan Islam ini. Sekarang ini terdapat lebih 300 institusi yang mengamalkan perbankan Islam dan beliau sendiri terlibat dalam beberapa institusi sekaligus.

Sebenarnya, tenaga pakar yang dimaksudkan oleh Sheikh Nizam ini merupakan mereka yang boleh dianggap sebagai para ilmuan yang betul-betul fasih dalam bidang syari’ah dan juga perbankan konvensyenal. Ia memakan masa sekurang-kurangnya sepuluh tahun untuk melatih dan melahirkan sesorang ilmuan. Jika diambil-kira pengalaman yang diperlukan bagi betul-betul mahami selok-belok industri ini, jangka-masa yang diperlukan boleh menjangkau 15 hingga 20 tahun.

Sekarang ini, dianggarkan hanya seramai 50 hingga 60 ilmuan sahaja yang layak untuk menasihati dan menjalankan tugas penyeliaan keatas institusi perbankan Islam seluruh dunia.

Apa yang merumitkan keadaan ini ialah tiada satu-satunya kelayakan sejagat yang boleh diterima dan dianggap sebagai kelayakan yang membolehkan seseorang itu digelar ilmuan dan layak melaksanakan tanggung-jawab tertentu.

Perkara-perkara lain yang boleh menghambat adalah dari segi pelbagai perbezaan pendapat dan pentafsiran yang perlu diambil-kira dalam memenuhi hukum-hukum syari’ah. Oleh kerana pemahaman dan perlaksanaan sistem perbankan memang lumrah menggunakan bahasa Inggeris yang teknikal, ini juga boleh menjadi suatu rintangan kepada sebahagian para ulamak yang kurang fasih dalam penguasaan bahasa Inggeris.

Dalam keadaan dimana hasil yang melimpah berikutan harga minyak yang tinggi, lebih banyak pusat kewangan seperti London, Tokyo dan Hong Kong mengambil kesempatan membangunkan sistem Perbankan Islam mereka sendiri. Sudah tentu keadaan sedemikian akan menambahkan lagi tekanan untuk melahirkan tenaga pakar.

Sailing safely in a choppy market

Chen Huifen
Mon, Jan 28, 2008
The Business Times

LAST week's stockmarket crash and subsequent yo-yo fluctuations of the Straits Times Index (STI) may have caused hearts to flip, but it also highlights the importance of staying calm in adversity.

And if you emerge from that experience realising that you are among those who can't stomach monitoring daily movements of stock markets on your own, then perhaps you could look towards mutual funds or, unit trusts.

What are mutual funds?

Mutual funds are essentially a form of collective investments, using money gathered from many investors, and managed by a team of fund managers who put them into various instruments, including stocks and bonds.

In Singapore, mutual funds are also known as unit trusts, possibly inheriting the term from the British, who emulated the concept of US-originated mutual funds in 1931 with the launch of First British Fixed Trust. Today, there are more than 700 unit trusts available in Singapore.

Franklin Templeton Investments Asia uses an analogy to describe the concept.

"It's like a group of citizens pooling their money together to buy some seeds and a farm owner (asset management company) recruits some professional farmers (a fund manager) to grow these crops," said its regional sales trainer Chris Tse.

"The farmers would find a farm with the right soil conditions (company research) and wait for a suitable weather to put their seeds (investing in the right companies at the right time in anticipation of growth). In order to maximise output, farmers would grow different plants in different seasons (tactical asset allocation)."

Unit trusts are open-ended funds. They are divided equally into units whose price is directly proportionate to the fund's net asset value. There is no limit to the number of shares or units in an open-ended funds, so each time new money is invested, new units are created.

Pluses and minuses

One of the most significant advantages of unit trusts investing is its reach. "In some emerging markets, regulators do not allow foreign individual investors to enter directly into their markets (eg. China, Vietnam, India, Saudi Arabia)," said Mr Tse. "So buying a mutual fund is the only permissible way for foreign investors to take advantage of growth opportunities in that market."

Because each fund invests in a basket of companies, or a basket of financial instruments, unit trusts offer investors an avenue to diversify his portfolio.

"If an investor only had $1,000, and wanted to invest in shares traded on the Singapore Exchange, which are sold in lots of 1,000, then he can only afford to buy shares in one company, or penny stocks that cost below $1," added Mr Tse. "He also puts himself in a position that's more risky as his fortunes then depend on the profitability and returns from that one company."

Unit trusts investors can also leave the research, stock picking and individual trading decisions to the team of professional fund managers manning each fund. That said, having the fund in the hands of professionals doesn't guarantee that it will never lose money. Many technology fund investors are known to have lost money in the post-dotcom boom. Besides, sitting in a car that somebody else is driving may pose a disadvantage. Investors have no control over what stocks or instruments to buy or sell, or the opportunity to compare price-earnings ratios or earnings per share.

Yet to young investors with limited resources, unit trusts are more affordable than blue chips or property. Most unit trusts can be invested for as low as $1,000. They are available through banks, brokerages, financial advisory firms and online distributors such as dollarDex.com, finatiQ and Fundsupermart.

Unlike stocks whose prices move throughout a trading day, the price of a unit trust is quoted only once a day, after the value of the holdings is calculated. Hence a particular unit trust can only be traded once a day.

In terms of performance, there is wide disparity. There are those that shine and others that swim in the red. Rating agencies like Morningstar, Lipper and S&P offer qualitative and quantitative ratings on funds based on their return and risk levels. Their prices (net asset value) may also be found in The Business Times' Unit Trusts and Funds table. Past performance is, however, no guarantee of a fund's future success. Franklin Templeton's Mr Tse, however, recommends an investment period of at least five years, for a fund to reap good returns.

The most mind-boggling part of unit trusts is perhaps the multiple layers of fees. There is an initial upfront sales charge of up to 5 per cent when one buys into a unit trust. Fund managers also charge an annual management fee, usually up to 2.25 per cent. In some instances, there could also be service fees, maintenance fees or performance fees incurred.

With so many fee types, is there enough left in the capital to make money from unit trusts investing? Young Investors Forum will delve deeper next week.

Natasha Nabila Muhammad Nasir

As extracted from Channel NewsAsia
Top PSLE student attains highest score in 17 years
By Hasnita A Majid, Channel NewsAsia | Posted: 22 November 2007 1620 hrs



SINGAPORE: St Hilda's Primary School has produced the top PSLE student this year.

Natasha Nabila Muhammad Nasir is also this year's top Malay student.

With an aggregate score of 294, the Education Ministry said she has set a record as having achieved the highest marks in the 17 years since the current PSLE system was implemented in 1991.

Natasha, daughter of a housewife and a technician, said her results are unexpected.

This is because she was studying in a hospital during the exam period as her grandfather was admitted to the Intensive Care Unit (ICU), just a day before her first paper.

Subsequent days were spent at the hospital after school hours. Her grandfather, who never recovered, passed away in the ICU recently.

The Gifted Education Programme student cited consistent work and love for reading as secrets of her success.

She said: "The secret of my success is reading. I have been reading since I was two years old and I think that has helped me a lot. Through reading, I gained a lot of knowledge."

Natasha also has good time management and a supportive home environment.

Her mother, Zaharah Othman, said: "When it's time to study, the TV will be switched off. The same goes for reading. We have reading time and usually before bedtime, she's free to read whatever she wants to read. I have been doing this for both my children."

This is the second time that St Hilda's Primary School has produced a top PSLE student. The first time was in 2000 when it produced the country's top student for that cohort, as well as the top Malay student for that year.

Students from neighbourhood schools also scored well.

One of the top Chinese students is Angela Leong from West Grove Primary School who scored 287, while the top Indian student with an aggregate of 285 is Vanessa Malishree Dharmaratnam from Raffles Girls' Primary.

"I'm very happy, quite surprised because I didn't expect to be the top Indian pupil in Singapore. I actually just hope to get into RGS, just above the cut-off point, so I'm very, very excited and I'm quite proud of myself," said Vanessa.

Santa Maria Priscilla Nicole from CHIJ Katong Primary clinched the top spot among Eurasian students.

And among the EM3 students, Ang Bing Jie from Mee Toh School and Rebecca Fan from Radin Mas Primary School are among those who scored Grade 1 for all EM3 subjects.

A total of 49,817 pupils sat for the PSLE this year – 798 pupils fewer than last year's cohort – and 5,176 were from the EM3 course. Of these students, 97.7 percent are eligible for secondary schools.

63.5 percent of these students made it to the Express course, 22.2 percent for Normal (Academic) course and 12 percent for the Normal (Technical) course.

1,152 pupils are assessed as not ready for secondary school in 2008 or more suited for vocational training.


- CNA/so

$10,000 investment is now a $2m business (Sujimy Mohammed)

Lorna Tan
Sun, Oct 28, 2007
The Sunday Times MR SUJIMY Mohamad was one of Malay television's best-known faces in the late 1990s, along with his wife Haslinda Ali.

So when it came to personal investing, he did not hesitate to follow his passion, ploughing his savings into the world of TV.

Mr Sujimy, 37, likes his investments to yield returns fast, but he finds investment instruments such as fixed deposits and unit trusts too slow in showing returns.

'As a high-risk taker, I don't mind big calculated risks if I can see the returns fast. We always hear investment planners say that, with time, money will grow. But not everybody can wait, especially not me.'

He saw advantages in investing in a business he knew well. He had spent seven years with MediaCorp as a presenter on the Suria channel. With that experience under his belt, he decided to start his own TV and film production outfit, Screenbox, which was followed by three other start-ups.

He set up Screenbox in 1999 with his wife, Ms Haslinda, 36, who also worked at Suria, heading a current affairs programme. The going was tough as he had to compete with 30 other production houses.

Now, his firm owns a wide suite of facilities such as editing suites, studios and cameras, and it services Channel News Asia as well as Kids Central and Suria. He invests or co-invests with partners in TV programmes that he produces, so he gets a share of the royalties when the shows are distributed in the region or internationally.

So far, he has completed 35 TV series, each with eight to 13 episodes. They include The Million-Makers, featuring young millionaires, and The Peddlers Of Asia, which focuses on undiscovered street chefs. The former has been acquired by broadcasters in markets such as South Korea, Hong Kong and the United States.

Mr Sujimy's brush with the reel world began when a radio producer spotted him at a school debate. This led to a part-time job as a radio show announcer, and he became a TV newscaster during his varsity days.

He and his wife have two daughters, Qistina, five, and Qasrina, three.

Q What other businesses have you invested in?

A I enjoy watching good movies and it feels even better to get them from your own store. I put $150,000 into a video retail store called GilaMovies. The flagship store is at Novena Square 2 and there's a branch in Bedok North for heartland residents. I hope to have five branches in three years' time.

I also invested $60,000 in the Mibun Hair Studio in River Valley. I made the investment mainly because the styling director, who approached me, has 15 years of expertise in the industry. The studio is doing pretty well and I hope to open more branches.

The other reason I invested in Mibun is that artistes for productions at Screenbox need to be well-groomed, so it is relevant to my mainstay business.

I also co-founded a personal health and wellness firm with an investment of $30,000. I feel it has tremendous potential in the region and beyond.

Q What are your money management habits?

A I don't need a lot of money. If I do shop, I buy what I need at one go. I feel that savings are important, but the returns from savings are small compared with the returns from other investment instruments.

Q What financial planning have you done for yourself and your family?

A About 80 per cent of my income goes to savings: half for investments and half for rainy days. The latter is mostly in fixed deposits.

Q What about insurance planning?

A Insurance is a must for me. I have two life policies and I'm insured for $1 million. My children have an endowment plan so they will have an assured sum when they reach 18. My annual premiums come to $24,000.

I also have keyman insurance (which covers business loss in the event of either the death or disability of a key executive) for each of my businesses.

Q What do you look for when you invest in businesses?

A I need to fully understand a business before I invest in it. The concept has to be simple. There should be some certainty that I can recoup the principal within 1 1/2 years and get a stream of passive income after that.

Though I won't necessarily run it, I must be able to add value to the company through my knowledge and expertise. I also check for cross-promotion possibilities with my other firms.

The most vital thing is the talent and partners running the business.

I like retail and businesses in new economies. Currently, I am assessing some mobile and digital businesses.

Q Moneywise, what were your growing-up years like?

A I grew up in a very poor family of 15. I was the 12th child. We lived in a three-bedroom HDB flat and I slept in the hall with my siblings.

My dad would bring back one durian and everyone would rush over to get a bite. He had three jobs: as a gardener, petrol kiosk pump attendant and quarry worker.

To save money, I collected free bread crusts from a nearby bakery and ate those during recess in secondary school. I saved every cent of my $1.50 pocket money. I bought a bicycle and saved on bus fare too.

When you've experienced such a childhood, you want a better future. I believe that is what motivated me to work so hard for a better life.

Q What has been a bad investment?

A At university, I was already investing in stocks, mainly Clob shares. I had some wins, but at the moment, I have paper losses of $10,000.

Q Your best investment to date?

A Screenbox is my best investment. My wife and I set it up with just $10,000. Now, its annual turnover is about $2 million. I'm open to considering anyone who is willing to invest in our TV productions, but we are also selective. They must be ready to understand the business.

Q Any other investments?

A I have a freehold investment property: a 1,100 sq ft condominium in Novena that cost about $600,000 in 2001. The rental yield is 4 to 5 per cent.

I'm planning to get another one. I hope I can give each of my two children a home when they grow up.

Q What's your investment philosophy?

A If you want to invest, be sure to use your extra money and not rainy day money. You have to be prepared for losses as investments are ongoing and there are unexpected costs. You need to be a risk-taker too.

Q And your home now is...?

A I live in a three-storey terrace house in Taman Jurong that has a land area of about 5,000 sq ft. It was purchased in 2004 for less than $1 million.

Q And your car is...?

A A Mercedes E200.

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