Dato’ Dr Adnan Alias

Chief Ex­ec­u­tive Of­fi­cer IBFIM

Insurance - - COVER STORY -

In­for­ma­tion and knowl­edge are in­valu­able. There­fore, it goes with­out say­ing that this col­lab­o­ra­tion among knowl­edge bases and cen­tres is com­mend­able. IBFIM is pleased to be part of it. At IBFIM, the knowl­edge re­sid­ing in our base – Knowl­edge Man­age­ment Cen­tre (KMC) – is more prac­ti­cal than the­o­ret­i­cal. Com­bined with the fact that th­ese are faith based, makes that repos­i­tory of knowl­edge price­less. Knowl­edge per se is al­ready dy­namic; imag­ine the dy­namism when there’s that syn­er­gis­tic ef­fect. In the short term, IBFIM wants a por­ous boundary to be iden­ti­fied; it is nec­es­sary to lend mean­ing to each knowl­edge base ex­is­tence, but by the na­ture of knowl­edge, it makes no sense for the fenc­ing to be water tight. Within that boundary, each base then fath­oms deeper into its bounded uni­verse of knowl­edge. As the body of knowl­edge also ex­pands and meets the other bound­aries, syn­er­gies are cre­ated. In the medium term, IBFIM wants to see those syn­er­gies har­nessed, par­tic­u­larly lead­ing to some un­locked knowl­edge trea­sure chest. For ex­am­ple, ar­chives are pur­posely locked trea­sure chests. Let’s open that up and link them to the bases. That should lead us to the longterm goal of wit­ness­ing all our KMCs trans­form­ing into real knowl­edge man­age­ment cen­tres.

By the grace of Al­lah, IBFIM KMC is al­ready an in­dus­try recog­nised one-stop Is­lamic fi­nance ref­er­ence cen­tre. By that, among oth­ers, we meant the lure IBFIM KMC poses to se­ri­ous re­searchers. I’d like to stress the ‘word’ se­ri­ous here. We started by op­er­a­tional­is­ing the term or con­cept of KMC, man­i­fest­ing the tra­jec­tory into our IBFIM KMC vi­sion and trans­lated that into mile­stones. We are in the last two miles, I must say, to­wards the fi­nal des­ti­na­tion of to­tal IBFIM KMC trans­for­ma­tion. With the KMTF ini­tia­tive, we be­lieve the tra­jec­tory and its speed will re­main but it’ll be an ex­panded tra­jec­tory and hopefully gain­ing more glow and longer tail-blaz­ers.

There’s this in­te­gral and crit­i­cal link­age be­tween two KCs: Knowl­edge Cen­tre and Knowl­edge Capita. The link­age is a two-way flow, each en­rich­ing the other. Since we are talk­ing about knowl­edge, let me di­gress a bit. This is not a chicken-and-egg pos­tu­la­tion. In that pos­tu­la­tion, we ar­gued end­lessly on which comes first for­get­ting the fact that all knowl­edge started with the bless­ings of Al­lah in grant­ing names to ob­jects and phe­nom­ena. With names came knowl­edge. It has been or­dained that capita emanates knowl­edge. We gave the KMC the name and it at­tracts and should emit and (legally) re­mit knowl­edge. At the out­set, I said about our IBFIM KMC be­ing more prac­ti­cal in na­ture; this is what the in­dus­try wants. For tal­ent devel­op­ment, a KMC is the ref­er­ence source for knowl­edge and in re­turn, the tal­ent (the per­son) en­riches the KMC. Def­i­nitely, syn­er­gised KMCs via this KMTF con­trib­ute to qual­ity tal­ent devel­op­ment and by ex­ten­sion, qual­ity tal­ent.

Prior to IBFIM KMC be­ing es­tab­lished, the Is­lamic fi­nance knowl­edge foun­tain is said to be at the univer­sity cam­puses. There were not that many then and they didn’t ac­tu­ally meet the kind of thirst pre­vail­ing among prac­ti­tion­ers. Where is the prac­ti­cal knowl­edge re­sid­ing? The an­swer is, in the prac­ti­tion­ers’ capita – tacit, very mo­bile, spo­radic, too fluid and non-de­script. IBFIM came with its KMC, cap­tured the knowl­edge and made it tan­gi­ble and ac­ces­si­ble. With nich­ing strat­egy, IBFIM KMC pools, man­ages and dis­sem­i­nates. Our KMC team un­der the lead­er­ship of en­tre­pre­neur­ial man­ager, En Zain, sup­ported by ded­i­cated knowl­edge mis­sion­ar­ies like En Hanapiah and team, in­no­vates all the time. Hith­erto, IBFIM KMC at­tracts not only prac­ti­tion­ers but also sup­port­ing pro­fes­sion­als and se­ri­ous aca­demic re­searchers. IBFIM KMC has proven that a li­brary can be trans­formed into a KMC and a KMC is not nec­es­sar­ily a cost cen­tre. That in it­self is an in­no­va­tive con­tri­bu­tion to Is­lamic eco­nom­ics, fi­nance and en­trepreneur­ship. With KMTF, IBFIM hopes to en­rich its de­pos­i­tory and to widen its reach.

A leader must in­no­vate to stay ahead. IBFIM has been do­ing that. Is­lamic fi­nance, for the first time, has wit­nessed an in­no­va­tive qual­i­fi­ca­tions frame­work and a pro­gres­sion route. That was a ma­jor in­no­va­tion, in con­so­nance with our vi­sion. With the Frame­work, the cap­stone in­dus­try qual­i­fi­ca­tion in Is­lamic fi­nance called CQIF (Cer­ti­fied Qual­i­fi­ca­tion in Is­lamic Fi­nance) was also launched. IBFIM plans to fur­ther strengthen its three pil­lars namely, as a train­ing author­ity, as a lead­ing Shariah ad­viser and as a world class KMC. The task IBFIM is fac­ing is daunt­ing as IBFIM cov­ers four sec­tors – Is­lamic bank­ing, taka­ful, Is­lamic wealth man­age­ment and Is­lamic cap­i­tal mar­ket. I be­lieve, our able staff has brought us there ex­cept we don’t beat our chest. In mov­ing for­ward, we have to make our in­ter­na­tional pres­ence felt. All along, the Is­lamic fi­nance in­dus­try has been sup­port­ive. Bank Ne­gara Malaysia in par­tic­u­lar has been very passionate in lead­ing, driv­ing and sup­port­ing IBFIM’s causes which are Is­lamic fi­nance causes any­way. For ex­am­ple, in tal­ent devel­op­ment, I can’t re­call an­other cen­tral bank that has a sta­ble of var­ie­gated and ded­i­cated en­ti­ties and pro­grams meant for the fi­nan­cial ser­vices sec­tor. All th­ese au­gur well for IBFIM to re­alise its vi­sion. Thank you.

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