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MALAYSIAN PLAYING THE ROLE MODEL
https://techwireasia.com/2019/06/how-can-malaysia-shape-the-islamic-digital-economy/
*How can Malaysia shape the Islamic digital economy?*
FIFTEEN of the 195 countries in the world follow Sharia Law in some shape or form.
Together, however, they command trillions of dollars in investment and trade and influence decisions across the globe.
And although this “economy” is still in its infancy, it’s growing rapidly with the help of digital tools and technologies — which creates a fantastic opportunity for Malaysia — a torch-bearer in the world of Islamic finance.
In an exclusive interview with Tech Wire Asia ahead of Malaysia Tech Week, Bank Negara Malaysia’s (Central Bank of Malaysia) Shariah Advisory Council (SAC) Chairman Mohd Daud Bakar shed light on the future of the Islamic digital economy and how Malaysia can gear up to play a big role in this exciting new world.
“Malaysia has been at the forefront of championing Islamic banking and finance for the last three decades. By the way, Malaysia is also in advance stage of building IT infrastructure.
“Thus, it is a natural call for Malaysia to once again take the leading role in driving Islamic digital economy as Malaysia has many in-house talents on both Shariah knowledge and IT and smart technology.
“We just need a special task force at the government level or perhaps a dedicated department at Malaysia Digital Economy Corporation (MDEC) to coordinate the infusion of Shariah knowledge on digital economy activities. Malaysia needs to play the role model function to make this happen in no time.”
*Malaysia has a finger on the pulse of the Islamic digital economy*
The Malaysian government has a dedicated agenda and budget for the digital economy because it plays a key role in building the nation’s GDP.
Through MDEC, the government is making significant efforts to embed Islamic digital economy in the grand design of the digital economy in the country.
MDEC has introduced the Islamic Digital Economy Guide (Mi’yar), a reference for startups, venture capital and supporting ecosystem players who wish to explore and understand its various components.
“I believe the establishment of this guide is the right step for the growth of Malaysia’s Islamic digital economy.
“What is needed in the near future is a bolder statement and narrative on Islamic digital economy as a new and standalone pillar to drive and perhaps its impact on the GDP of the nation.
“This will make all agencies and ministries in Malaysia aware of this new growth area and it is envisaged that this new push will generate a greater level of interest and coordination amongst all stakeholders.”
*Opportunities and challenges for the Islamic digital economy*
“The challenges are always vested with the mindset and the talent, or rather, the skillset.”
According to Daud, many segments, especially in the Islamic community, tend to undermine the powerful impact of a digital economy vis-a-vis a brick and mortar economy.
Some of them may even have doubt on the Shariah compliance aspect of the digital economy “which is quite unfortunate as technology has been neutral in the Shariah mindset all the way”.
As much as these pose the challenges, they also create new opportunities for many service providers.
“Surely, it will create a first mover advantage for any company that embraces the vision and has the skillset to champion this young but promising industry.”
As with many other new things in this world, the Islamic digital economy will definitely take time to get the traction and buy-in it needs, but once it has achieved critical mass with regards to awareness and support, it is expected to soar high.
Daud points out that government agencies and the private sector must work hand-in-hand to persevere and sustain the momentum.
“As a global Shariah scholar, I can only say that smart technology, which underlies the digital economy, will make Shariah compliance more visible, tangible and impactful. This is why the Islamic digital economy is expected to have a bright future.”
“The global Islamic market is full of potential and more needs to be done to educate the world of Malaysia’s potential in Islamic digital economy,” concluded Daud.
(This is copied from an article of Tech Wire Asia which was published earlier)
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#HannahEdSuccessfulstories
Sáng sớm nay một bạn Schofans cùng tên có inbox nhắn cảm ơn chị Hoa Dinh và Page Scholarship for Vietnamese students. Bạn ấy mới đi Kuala Lumpur về theo chương trình CIMB Young ASEAN Leaders được tài trợ toàn phần. Cơ hội ra nước ngoài không mất phí là chuyện nhỏ nhưng quan trọng hơn chỉ trong thời gian ngắn Hoa đã làm quen được với rất nhiều bạn bè quốc tế và đã học hỏi được rất nhiều điều bổ ích cho bản thân. Chị tin rằng đây chỉ là bước khởi đầu, chắc chắn bạn ấy sẽ giành được rất nhiều học bổng khác trong tương lai. Cùng chúc mừng Hoa và Schofans nhà mình cùng cố gắng thêm nha. À bật mí là trong đoàn Việt Nam còn có 1 bạn Volunteer của page mình đó. Schofans chịu khó Like, See First page để không bỏ lỡ cơ hội nào ha.
Chị trích lại những bài học mà Hoa nhận được để chia sẻ với mọi người nhé, đặc biệt chú ý phần các ngành nghề và kĩ năng cần thiết trong tương lai ở cuối. Link bài viết: https://www.facebook.com/notes/hoa-nguy%E1%BB%85n/cyal-2018-brief-notes-and-highlighted-moments/10156418943876187/
Related links:
UCTC UKM official fb page: https://www.facebook.com/uctcukm2014/
CIMB Foundation official fb page: https://www.facebook.com/cimbfoundation/
News of CYAL 2018 on BH Online: News- BH Online
Scholarship finding page: Scholarship for Vietnamese students
I. KEY TAKE-AWAY NOTES
Here is the key notes that I found most impressed with, and would like to share to my friends, relations, as well as anyone who want to try practicing to “Think ASEAN”, “Act Sustainably” or just simply understand the importance of and are curious to know more abt the “ Green, prosperous lifestyle of a Smart City”.
1. ASEAN Identity and Unity
Dr. Wahiza Wahi
CITRA, UKM
---
- To drive social changes, it is vital to engage people in the society. There are 2 key indicators:
o Whom to engage.
o How many people to be on board.
- Base of Social Engagement: Emotional Commitment (EC)
o EC caused from shared goals among people.
o To go as a team in a long run, a part from EC, you have to build credibility as well (delivering your responsibilities on time).
2. Think City
Dr. Neil Khor
Programme Director, Southern Region
Think City Bhd
---
- Why City?
o Future trend: the growing population of large cities àmore than 60% of the population will live in cities in 2050. (*)
o Basic elements of societies, where you can create the smallest sustainable ecosystem unit for citizens.
- Smart City: Transformation from conventional cities into smart cities by replacing manual tasks by smart applications.
o How machines have changed the way human work, contact, engage, etc. àneed to evolve and participate in this 4.0 revolution.
o Considering SDGs as the common goals worldwide (previously we had MDGs, but have switched into SDGs since 2015 as MDGs applied primarily to least developed/poor countries, while the new SDG goals set targets that call all countries to action, no matter how developed).
o Recommendation: Using Crystal Ball as a digital platform for analytics and making predictions.
- Smart City Fundamentals:
o Smart Energy
o Smart Mobility
o Smart Water
o Smart Public Services
o Smart Buildings
o Smart Data Center
==> Smart Collaboration:
Planning & Design
Solution Implementation
Operation & Optimization
Business models & Financing
- Smart Digital City: In 4.0 era, digital facets become more essential to evolve conventional cities.
o Low carbon city concept
o E.g. of smart cities: Singapore & Curitiba
- Smart Digital City concepts & Business Impact
o Block chain Technology:
No Third-party Involvement
Trusted transactions
Reduce cost
Transparency
No single point of Failure
Security
Real-time tracking
Unalterable Copied only
o Business Impacts:
Digital Transformation Strategy à[Social Media Mkt & Branding] + [Digital Mkt] + [Brand & Product Mkt] à[Advertising Business Mkt] àGreen Product àGreen Services
3. Sustainability City Plan and Dev. from Industry Perspective
En Ismail Hj Abdullah
President & CEO
International Green Training Centre
---
- Sustainable City Framework:
o Policy Objectives & Planning
o Spatial Data & Indicator Dimensions
o [Urban Form + Economy + Resource Efficiency + Environment + People]
o Climate Change (Low Carbon & Resilience)
o Governance
- Sustainable Cities Index:
o People (Social)
o Planet (Environment)
o Profit (Economic)
(Reference: ARCADIS Sustainable Cities Index)
- ARCADIS Sustainable cities indicators for economic pillar
o Transport infrastructure and traffic congestion
o Ease of doing business
o Tourism volume
o GDP per capita
o Global economy networks ranking
o Broadband connectivity
o Employment rates
- Sum-up notes:
o Sustainable city development requires the participation of all stakeholders in the society, including city councils, citizens and industries players.
o Sustainable city development from industry perspective requires comprehensive assessments of social, economic and environmental costs.
4. Smart City- Issues & Challenges
Prof. Dato’ Dr. K. Sopian
Director
Solar Energy Research Institute (SERI), UKM
Ar. Chan Seong Aun
President
Makaysian Green Building Federation (MGBC)
---
- Strategies to bring renewable into the cities
o Capacity building, awareness & educational programme
o Infrastructure development & Market enhancement programme
o Effective policies & enhancement of financial mechanism
o R&D and industrial interactions (Competitive industries)
- Fyi: CO2 green building index
5. CIMB Sharing- Sustainability
Sieh Luanne, Hussam Sultan
Representatives
CIMB Group
---
- CIMB’s Sustainability Focus across 5 major buckets:
o Sustainable business
o Sustainable action
o Governance & Risk
o Stakeholder Engagement & Advocacy
o Corporate social responsibility (CSR)*
- CIMB has worked on various projects to drive positive impact in the Environmental, Social and Governance (ESG) space.
6. FORWARD Your Leadership Skills for the Workforce of Tomorrow
Tengku Dato’ Sri Zafrul Aziz
CEO
CIMB Group
---
- Situation: The pace of innovation is accelerating àdeveloping trends are causing Disruption
A. Banking Industry
- Banking disrupted by multiple players:
o Challenger banks
o Platform players
o Fintechs
- Bank of the future: Key characteristics
o Embrace technology
o Explore partnership
o Enhance analytics
==> Digitizing the core: Create a holistic & consistent digital multi channel- multi product sales experience across MIST
B. Jobs opportunities
- New opportunities regarding to Digital/ Big data/Architect/ Engineer/ Healthcare, etc. that machines cannot replace.
- Skillsets required in the new age of technology:
o Creative and Innovation
o Leadership
o Emotional Intelligence
o Adaptability
o Problem Solving
<3 Chia sẻ và tag bạn bè mình nếu các em thấy có ích nhé <3
#HannahEd #duhoc #hocbong #sanhocbong #scholarshipforVietnamesestudents
